Global investor consortium, Aramco reach $15.5B deal

Global investor consortium, Aramco reach $15.5B deal
# 23 February 2022 19:36 (UTC +04:00)

A world consortium of investors led by affiliates of BlackRock and Hassana reached an agreement with Saudi Arabian Oil Company (Aramco) for $15.5 billion to obtain a 49% stake in Aramco Gas Pipelines Company, as published by the Saudi company on Wednesday, APA reports citing Teletrader.

Under the deal, Aramco Gas Pipelines Company and Aramco signed a 20-year lease and leaseback agreement concerning Aramco's gas pipeline network. Aramco retains full ownership and operational control of the pipeline system. Meanwhile, the consortium includes Keppel Infrastructure Trust, Silk Road Fund, and China Merchants Capital.

"The participation of the consortium led by BlackRock and Hassana underlines the appeal of Aramco's portfolio to leading global investors as Saudi Arabia's economic transformation builds momentum, requiring a robust energy infrastructure and network that are vital to meet the needs of an expanding industrial sector," said Aramco President and CEO Amin H. Nasser.

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