UAE's Mubadala joins EIG-led consortium to buy stake in Aramco pipeline

09/06/2021 Argaam

Logo of Mubadala Investment Co.

Abu Dhabi’s sovereign investor Mubadala Investment Co. said it has joined a consortium led by US-based EIG Global Energy Partners to buy a 49% equity stake in Aramco Oil Pipelines Co., Reuters reported.

 

According to data available with Argaam, Saudi Aramco entered into a deal with a consortium led by EIG Global Energy Partners (EIG) to optimize the value of its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network. Saudi Aramco will receive upfront proceeds of around $12.4 billion upon closing.

 

As part of the transaction, a newly-formed Aramco subsidiary, Aramco Oil Pipelines Co., will lease usage rights in Aramco’s stabilized crude oil pipelines network for a 25-year period.

 

Aramco will hold a 51% majority stake in the new company and the EIG-led consortium will hold a 49% stake.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.