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

SourceGulf Today
SectorEconomy
CountryUnited Arab Emirates

ADPF, ADQ invest Dhs7.7 billion in Adnoc infrastructure deal an hour ago Picture shown is for illustrative purposes only. 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 ...read more...