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.
