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HOME > BUSINESS >Brookfield, BlackRock no longer in race for over $10 billion Aramco pipeline stake -sources
Brookfield, BlackRock no longer in race for over $10 billion Aramco pipeline stake -sources
Reuters | Apr 06, 2021 03:49 PM EDT
The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, (Photo : REUTERS/Hamad I Mohammed/File Photo)
U.S. asset manager BlackRock and Canada s Brookfield Asset Management Inc are no longer in the race to buy a stake in Saudi oil giant Aramco s pipeline business, two sources familiar with the deal said.
Brookfield, BlackRock pull out of race for Aramco pipeline stake worth over $10b
The Saudi Aramco logo is pictured at the company s oil facility in Saudi Arabia, REUTERS/Maxim Shemetov
April 6, 2021
US asset manager BlackRock and Canada’s Brookfield Asset Management Inc are no longer in the race to buy a stake in Saudi oil giant Aramco‘s pipeline business, two sources familiar with the deal said.
Apollo Global Management and New York-based Global Infrastructure Partners (GIP) are among the bidders still in the race for the deal, which could fetch Aramco over $10 billion, they said.
China Investment Corp, the country’s sovereign wealth fund, was also weighing a bid for the assets, a third source told Reuters.
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DUBAI, April 6 (Reuters) - U.S. asset manager BlackRock
and Canada s Brookfield Asset Management Inc
are no longer in the race to buy a stake in Saudi oil giant
Aramco s pipeline business, two sources familiar with
the deal said.
Apollo Global Management and New York-based Global
Infrastructure Partners (GIP) are among the bidders still in the
race for the deal, which could fetch Aramco over $10 billion,
they said.
EIG Global Energy Partners is also in the race for the
pipeline assets, two separate sources said.
Washington DC-based EIG provides institutional capital to
the global energy industry, it says on its website.