Private equity firm Carlyle Group is set to acquire a significant minority stake in Europe's largest privately-owned oil and gas company, Cepsa, from Abu Dhabi sovereign wealth fund Mubadala.
The planned acquisition is the latest step in the UAE capital's drive to diversify revenue sources and bring private capital and more commercial management into its wealth fund. Musabbeh Al Kaabi, Mubadala's CEO for petroleum and petrochemicals, said in a statement that he was pleased to have Carlyle as a partner.
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