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Mubadala joins EIG-led consortium buying Aramco pipeline stake
Abu Dhabi - Aramco in April agreed to sell a minority stake in its pipelines for $12.4 billion to a consortium led by EIG
Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by US-based EIG Global Energy Partners that had agreed to buy a 49 per cent equity stake in Aramco Oil Pipelines Co.
Aramco in April agreed to sell a minority stake in its pipelines for $12.4 billion to a consortium led by EIG, the company’s largest deal since its record $29.4 billion initial public offering in late 2019.
Aramco will keep 51 per cent of the newly formed Aramco Oil Pipelines Co and rights to 25 years of tariff payments for oil carried on Aramco’s pipelines. — Reuters
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