ADNOC could make $15bn gas pipeline deal

BlackRock, GIP, and KKR are among companies interested in bidding on ADNOC's gas pipelines unit

ADNOC, Pipelines, Kkr, Blackrock

Companies including BlackRock, Global Infrastructure Partners, and KKR & Co. are considering bidding on ADNOC's gas pipelines unit, Bloomberg reported.

It reported that the unit could be worth up to $15bn including debt, according to anonymous sources. The first-round bids are expected to come through in mid-February, and ADNOC could reportedly sell up to 49% of the business through a lease structure.

KKR and BlackRock already invested $4bn into ADNOC's oil pipelinees in 2019, marking the first investment by foreign asset managers into the infrastructure of any Middle Eastern national oil company.

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