Aramco Closes $12.4 Billion Deal With Beijing, Abu Dhabi Backing

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By Farah Elbahrawy

(Bloomberg) —

China’s Silk Road Fund and Saudi Arabia’s Hassana Investment Co. have joined a group of investors in Saudi Aramco’s oil pipelines.

The consortium led by U.S. group EIG Global Energy Partners LLC acquired a 49% equity stake in Aramco Oil Pipelines Co. for $12.4 billion, according to an emailed statement. Abu Dhabi’s sovereign wealth fund, Mubadala Investment Co., also announced recently it was joining the investor group, which includes Samsung Asset Management.

Aramco may look to raise money from a similarly structured deal for its gas pipelines as part of a plan to raise money from non-core assets, people familiar with the matter have told Bloomberg.

©2021 Bloomberg L.P.

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