Mubadala takes stake in Aramco pipelines venture

Mubadala takes stake in Aramco pipelines venture

Abu Dhabi's sovereign fund Mubadala confirmed it has joined the consortium that took a significant minority stake in an oil pipeline venture with Saudi Aramco.

Aramco announced a $12.4 billion deal in April for the sale of a 49 per cent stake in a newly created vehicle known as Aramco Oil Pipelines. The buyer was a consortium led by Washington-based investor EIG, an investor in energy-related infrastructure.