Abu Dhabi funds invest $2.1bn in ADNOC gas pipelines

SourceArabian Business
SectorOil & Gas
CountryUnited Arab Emirates

Abu Dhabi Pension Fund and holding company ADQ will take an indirect stake in the pipelines unit ADNOC set up earlier this year Abu Dhabi government institutional investors are paying $2.1 billion for a stake in a natural gas pipelines unit run by Abu Dhabi National Oil Co (ADNOC). Abu Dhabi Pension Fund and holding company ADQ will take an indirect stake in the pipelines unit ADNOC set up earlier this year, the oil and gas company said in a statement. ADNOC is doing the transaction at the same price as a deal in June, when it agreed to sell a stake in the gas pipelines business to international investors and valued the business at $20.7bn. The deal enables local government funds to earn returns on infrastructure assets alongside global money managers. Consortium led by ...read more...