![]() In September 2009, IPIC purchased the shares owned by Banco Santander and Unión Fenosa (32.53% and 5%, respectively), raising its shareholding to 47.06%.Īs a result of this current transaction, IPIC will acquire the 48.83% stake held by TOTAL plus the remaining free-float shares, which amount to 4.104% of the capital, in order to become the sole shareholder of Compañía Española de Petróleos, S.A., with a 100% stake. IPIC first became a shareholder of CEPSA 23 years ago, in 1988, when it acquired a 10% stake in the Company. At June 30, 2010, IPIC’s consolidated assets amounted to $48.2 billion. International Petroleum Investment Company (IPIC) is a wholly-owned entity of the Government of the Emirate of Abu Dhabi, whose mission is to invest in energy industries across the globe. The takeover bid, apart from requiring authorization from the Spanish Securities Market Commission, CNMV, must also obtain the necessary approvals and clearances from the competition authorities.Īs stated in the announcement released, following the settlement of the offer, IPIC intends to launch a compulsory acquisition (“Squeeze-Out”) of the remaining shares of CEPSA, with the consequent delisting of the Company on the stock exchange.ĬEPSA’s Board of Directors, once the takeover bid is authorized, will convene, as required by law, to These shares are held by TOTAL through its subsidiary Odival. TOTAL has irrevocably undertaken to tender all of the shares it owns in this offer, equivalent to 48.83% of CEPSA’s share capital. As a result, the total deal would be valued at approximately €3,970 million if the offer were to be accepted by all shareholders. The offer price will be €28 per share, which assumes a €0.50 dividend that CEPSA will pay out prior to the settlement of the takeover bid (otherwise, the price would be adjusted so that the amount received by shareholders who accept the offer, adding up the price plus the dividend, would be €28.50 per share). The P/E ratio is the most commonly used of these ratios because it focuses on the Ipic Entertainment's earnings, one of the primary drivers of an investment's value.The Abu Dhabi sovereign wealth fund, International Petroleum Investment Company (IPIC), which currently owns 47.06% of CEPSA’s share capital, has announced today, through a significant event filed with the Spanish Securities Market Commission (CNMV), that it will launch a public takeover bid on the entire share capital of CEPSA. ![]() The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued. This model doesn't attempt to find an intrinsic value for Ipic Entertainment's OTC Stock. Comparative valuation analysis is a catch-all model that can be used if you cannot value Ipic Entertainment by discounting back its dividends or cash flows. It is rated second overall in shares outstanding category among related companies. Ipic Entertainment is rated second overall in price to earning category among related companies.
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