Cepsa, an energy affiliate of Abu Dhabi’s International Petroleum Investment Co, has sold its 9.15 percent stake in Compañía Logística de Hidrocarburos (CHL Group) to Borealis Infrastructure. No financial terms were disclosed. CHL is an oil product transportation and storage business based in Madrid. Cepsa said the sale forms part of its current optimization program. Borealis is the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS).
Cepsa sells its stake in CLH to Borealis Infrastructure
The sale forms part of Cepsa’s asset optimization plan
BBVA acted as financial advisor on the transaction
Cepsa has reached an agreement with Borealis Infrastructure, an international investor in industrial infrastructure, for the sale of its 9.15% stake in Compañía Logística de Hidrocarburos.
The operation has been completed this morning.
The operation, in which BBVA acted as financial advisor, forms part of Cepsa’s optimization program covering the selective sale of Company assets.
CEPSA is an energy group fully owned by the International Petroleum Investment Company (IPIC). It employs more than 10,500 people and operates at every stage of the hydrocarbon value chain. It is engaged in petroleum and natural gas prospecting and production activities, refining, transport and sale of crude oil and natural gas derivatives, biofuels, co-generation and electricity sales. Cepsa has developed a world-class chemicals division that is tightly integrated with
its oil refining segment, where feedstock is manufactured and sold for the production of components with high valueadded, chiefly used in making new-generation plastics and biodegradable detergents. It has a prominent position in Spain and, through the continuing international expansion of its business, it also operates in 15 countries, marketing its products all over the world.
OPM (Borealis Infrastructure and OMERS Private Equity) OPM (Borealis Infrastructure and OMERS Private Equity) invests globally in infrastructure and private equity assets on behalf of the OMERS pension plan. Investments are aimed at generating superior, risk-adjusted returns to help deliver strong and sustainable pensions to OMERS members. OPM’s diversified portfolio of large scale infrastructure assets exhibits stability and strong cash flows, in sectors including
energy, transportation and government-regulated services. OPM has offices in Toronto, New York, London and Sydney. OMERS is one of Canada’s largest pension funds with net assets of CAD$72 billion. For more information, www.omers.com.
Madrid, January 11th, 2016
Cepsa – Dirección de Comunicación
Tel: (34) 91 337 62 02 / 60 00
Photo courtesy of Cepsa