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IPIC to Buy Santander's Share in Cepsa?

4:48 AM MST | February 27, 2009 | Natasha Alperowicz

Banking company Santander (Madrid) says it plans to sell its 32% stake in refining company Cepsa (Madrid), the parent of petrochemicals firm Cepsa Quimica. Santander has informed the Spanish stock market regulator that it is in negotiations with a potential buyer for its holding in Cepsa. Total is the biggest shareholder in Cepsa with 49%. Santander is in talks to sell its Cepsa stake to International Petroleum Investment Co. (IPIC; Abu Dhabi), which currently holds 9.5% of Cepsa, local reports say. The price being discussed is...

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