From Taighde
Cepsa is an oil refiner in Spain. The International Petroleum Investment Company (IPIC) fully acquired the company in August 2011.[1] A deal was announced in which IPIC would acquire Cepsa for $5.37 billion on February 16, 2011 from Total.[2] Before the deal, IPIC had control 47% of the company.
IPIC has had a fairly long history with Cepsa. It has held a stake in the company 1988 when it first purchased a 9.6% stake in the refiner. IPIC increased their stake in April 2009 by purchasing an additional shares that made up 37.5% which brought IPIC up to a 47% combined stake. IPIC paid $4.37 billion for those shares.
