by Bloomberg
|Friday, December 11, 2020
Saudi Arabia is looking to emulate neighboring Abu Dhabi by using its state energy firm to raise billions of dollars from investors.
(Bloomberg) Saudi Arabia is looking to emulate neighboring Abu Dhabi by using its state energy firm to raise billions of dollars from investors, as the kingdom seeks cash to counter a severe recession.
Saudi Aramco, the world’s biggest oil company, has hired Moelis & Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramco’s pipelines, said the people, who asked not to be identified because the matter is private.
Aramco seeks to follow ADNOCâs lead raising cash from asset sales By Nicolas Parasie, Archana Narayanan, Dinesh Nair and Matthew Martin on 12/11/2020
Ken Moelis
(Bloomberg) Saudi Arabia is looking to emulate neighboring Abu Dhabi by using its state energy firm to raise billions of dollars from investors, as the kingdom seeks cash to counter a severe recession.
Saudi Aramco, the worldâs biggest oil company, has hired Moelis & Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramcoâs pipelines, said the people, who asked not to be identified because the matter is private.