Abu Dhabi’s ADNOC seals $4-bln pipeline deal
Abu Dhabi The deal involves the creation of a new entity, ADNOC Oil Pipelines, which will manage 18 crude and condensate pipelines for a 23-year period. ADNOC will hold 60% in the new business, while BlackRock and KKR will jointly hold the remaining 40%.
Upfront proceeds from the deal for ADNOC are expected to reach USD 4 billion when the deal closes in Q3 2019.
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