Duvay (Reuters)-US asset manager BlackRock (NYSE :) and Brookfield Asset Management Inc. of Canada have not participated in a race to buy shares in Saudi Aramco’s (SE :) pipeline business. Two sources familiar with the matter said. ..
Apollo Global Management (NYSE :) and New York-based Global Infrastructure Partner (GIP) are among the bidders who are still competing for deals that could win over $ 10 billion in Aramco. ..
China Investment Corporation, the country’s sovereign wealth fund, was also considering bidding for assets, a third source told Reuters.
Aramco, Apollo and Brookfield declined to comment.
CIC declined to comment, but GIP did not respond to Reuters’ request for comment.
Bloomberg previously reported news that BlackRock and Brookfield Assets are no longer racing.
Aramco, which is about to sell 49% of its shares, is preparing so-called “staple finance” for bidders. This is a seller-provided finance package that buyers can use to support their purchases.
The planned pipeline transaction is similar to the infrastructure transaction signed by Abu Dhabi National Oil Company (ADNOC), which has raised billions of dollars through the sale and leaseback transaction of Abu Dhabi’s oil and gas pipeline assets, in the last two years. Sources have previously stated that. ..
Aramco, the world’s largest oil exporter, saw net income down 44.4% to $ 183.8 billion (49.01 billion) last month as the COVID-19 pandemic pushed global oil demand down. It was reported that it was (dollar).
However, it maintains its commitment to declare a $ 75 billion dividend in 2020, most of which will be paid to the Saudi Arabian government.
Fusion media Alternatively, anyone involved in Fusion Media will not be liable for any loss or damage resulting from relying on the data, quotes, charts, trading signals and other information contained on this website. Please be fully informed about the risks and costs associated with trading in financial markets. This is one of the most risky forms of investment possible.
BlackRock’s Brookfield is competing for over $ 10 billion in shares in the Aramco pipeline
https://www.investing.com/news/stock-market-news/brookfield-blackrock-no-longer-in-race-for-over-10-billion-aramco-pipeline-stake–sources-2466556 BlackRock’s Brookfield is competing for over $ 10 billion in shares in the Aramco pipeline