Total's Shareholding in Cepsa Due to Be Stepped Up to 49%

摘要

Following a legal battle between Total and the Spanish bank Banco Santander Central Hispano for control over the Spanish oil company Cepsa,and the decision handed down on the dispute by the Netherlands Arbitration Institute(NAI),the two protagonists have signed an agreement implementing the provisions of the ruling.In application of this decision,the French company now holds an interest of 44.5% in Cepsa,and its holding is due to be stepped up shortly to 48.85% if the European Commission approves the operation.Total says it is very satisfied with this agreement,which consolidates its position as the leading shareholder in Cepsa.