ADNOC INVESTMENT AGREEMENT $4 BLN
MEOG - The Abu Dhabi National Oil Company (ADNOC) has signed a multi-billion-dollar midstream pipeline infrastructure partnership with KKR and BlackRock. Through a newly formed entity, ADNOC Oil Pipelines, ADNOC will lease its interest in 18 pipelines for a 23-year period. ADNOC received upfront proceeds of $4bn from the transaction, which is expected to close in Q3 2019.
Funds managed by BlackRock and KKR will form a consortium which will hold a total 40% in ADNOC Oil Pipelines, with ADNOC holding the remaining 60%. ADNOC will continue…
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