Brookfield, BlackRock no longer in race for over $10 billion Aramco pipeline stake – sources By Reuters –
SectorOil & Gas
CountrySaudi Arabia

© Reuters. FILE PHOTO: Logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran DUBAI (Reuters) - U.S. asset manager BlackRock (NYSE:) and Canada's Brookfield Asset Management Inc are no longer in the race to buy a stake in Saudi oil giant Aramco (SE:)'s pipeline business, two sources familiar with the deal said. Apollo Global Management (NYSE:) and New York-based Global Infrastructure Partners (GIP) are among the bidders still in the race for the deal, which could fetch Aramco over $10 billion, they said.

China Investment Corp, the country's sovereign wealth fund, was also weighing a bid for the assets, a third source told Reuters. Aramco, Apollo and Brookfield declined to comment. CIC declined to comment, while GIP did not respond to a Reuters request for comment. Bloomberg earlier reported the news about BlackRock and Brookfield Asset being no longer in the race. Aramco, more...