Private equity firm Carlyle Group completed the acquisition of a minority stake of between 30% and 40% in Cepsa, Europe’s largest privately-owned integrated oil & gas company, from Mubadala Investment Company, the Abu Dhabi-based strategic investment company, on an EV of $12bn. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2019. “We are delighted to partner with Mubadala and Cepsa’s management team through our commitment to investing in Cepsa which offers such strong potential and future opportunities in the global energy sector. We look forward to building upon Cepsa’s growth path for the benefit of their customers, suppliers, and employees," Marcel Van Poecke, Carlyle International Energy Partners Head.