UPDATE 3-Abu Dhabi ups refining drive with Cepsa takeover


* Total sells 48.8 pct Cepsa stake for 3.7 billion euros * IPIC offering 28 euros per share in full bid for Cepsa * Cepsa shares rise 23.6 percent following offer * Total denies any interest in buying Repsol stake (Releads, adds analyst quotes, detail on IPIC) By Jonathan Gleave and Marie Maitre MADRID/PARIS, Feb 16 (Reuters) - Abu Dhabi increased its refining exposure by taking over Cepsa after buying half the Spanish oil company from French group Total for 3.7 billion euros ($5 ...

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