Abu Dhabi Pension Fund, ADQ invest $2.1bn in ADNOC infrastructure deal

Abu Dhabi Pension Fund, ADQ invest $2.1bn in ADNOC infrastructure deal

The Abu Dhabi Pension Fund (ADPF) and holding firm ADQ, will invest $2.1bn into select gas pipeline infrastructure assets of the Abu Dhabi National Oil Company (ADNOC).

In return, ADNOC will divest 20 per cent in ADNOC Gas Pipelines HoldCo LLC 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 of Global Infrastructure Partners, Brookfield Asset Management, Singapore's sovereign wealth fund GIC, Ontario Teachers' Pension Plan Board, NH Investment & Securities and Snam (the Consortium), invested $10.1bn for a collective 49 per cent stake in the same select ADNOC gas pipeline infrastructure assets.

Read: BlackRock, Snam bid for stake in $15bn ADNOC unit

With the addition of these domestic