ADPF, ADQ invest Dhs7.7 billion in Adnoc infrastructure deal

  • Date: 15-Oct-2020
  • Source: Gulf Today
  • Sector:Economy
  • Country:UAE
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ADPF, ADQ invest Dhs7.7 billion in Adnoc infrastructure deal

ADPF, ADQ invest Dhs7.7 billion in Adnoc infrastructure deal

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The Abu Dhabi National Oil Company, Adnoc, announced on Thursday that Abu Dhabi Pension Fund, ADPF, and ADQ, one of the region's largest holding companies, will invest Dhs7.7 billion (US$2.1 billion) into select Adnoc gas pipeline infrastructure assets.

Under the terms of the agreement, Adnoc will divest 20% in Adnoc Gas Pipelines HoldCo LLC, a wholly owned Adnoc entity that holds 100% of Adnoc's interest in Adnoc Gas Pipeline Assets  (Adnoc Gas Pipelines), to ADPF and ADQ. Adnoc Gas Pipelines is a subsidiary of Adnoc with lease rights to 38 gas pipelines covering a total of 982 kilometers. In July 2020, a consortium of global investors, comprising Global Infrastructure Partners, Brookfield Asset Management, Singapore's sovereign