October 23, 2018 / 7:39 AM / 10 months ago

Mubadala says waiting for right time to revive Cepsa IPO

RIYADH, Oct 23 (Reuters) - Mubadala Investment Company is waiting for the right time to revive the listing of Spanish oil company Cepsa, said the Abu Dhabi state investor’s chief executive on Tuesday.

CEO Khaldoon al-Mubarak said in Riyadh that Mubadala felt that it could get a better valuation if it postponed the IPO.

Mubadala, which had planned to raise about 2 billion euros ($2.3 billion) by selling 25 percent of Cepsa, said on Oct. 15 it had postponed the listing. (Reporting by Andrew Torchi, Stephen Kalin, & Rania El Gamal, writing by Alexander Cornwell, Editing by Saeed Azhar)

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