Cepsa will be launched onto the stock market in the last quarter of the year through an IPO. Valuations are being discussed in the range of 10 or 11 billion euros for 100% of the company. The Abu Dhabi sovereign fund (IPIC) bought 100% of Cepsa in 2011. At that stage Cepsa was listed in the stock market for approximately 7.5 billion euros.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
Basque wind turbine manufacturer Siemens Gamesa will supply the turbines for Cepsa’s first wind farm in Jerez de la Frontera (Cádiz), the company said on Tuesday.
Spanish energy Cepsa has acquired the rights to develop its first wind farm in Jerez (Cádiz) for an investment of 35 million euros. This the company’s first foray into the wind energy sector and diversifies its energy business. Cepsa is Spain’s fourth largest industrial group in terms of turnover.
MADRID | Ferrovial announced its construction subsidiary Ferrovial Agroman has been awarded several contracts to build 325 kilometres of gas pipeline in Spain for Endesa Gas. The contracts are worth €35 million in total. From 2012 until 2014, Ferrovial Agroman will build gas pipelines in the regions of Valencia, Castilla y León and the Balearic Islands. The infrastructure company said Ferrovial Agroman will execute 75 kilometres of gas pipeline in Alicante. In Castilla…