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Sydney Airport investors urged to ignore $22b bid
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Sydney Airportâs board has told investors the COVID-19 pandemic has hurt its shares and that they should take no action on an unsolicited $22 billion takeover bid from a group of infrastructure investors as its shares soared 29 per cent.
The board told investors that the pandemic was expected to have âa short term impactâ after a consortium of infrastructure investors made an indicative takeover offer priced at $8.25 per share.
âThe indicative proposal has been made during a global pandemic which has deeply affected the aviation industry and the Sydney Airport security price,â the airport said on Monday. âThe indicative price is below where Sydney Airportâs security price traded before the pandemic. â
Aramco agrees to US$12.4 billion deal to sell stake in pipelines Toggle share menu
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Aramco agrees to US$12.4 billion deal to sell stake in pipelines
The logo of Aramco is seen at the Plaza Conference Center in Dhahran, Saudi Arabia on Nov 3, 2019. (Photo: Reuters/Hamad I Mohammed)
11 Apr 2021 07:55AM (Updated:
11 Apr 2021 08:00AM) Share this content
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DUBAI: Saudi oil producer Aramco has agreed to a US$12.4 billion deal to sell a 49 per cent stake in its pipelines to a consortium led by US-based EIG Global Energy Partners.
Announced late on Friday (Apr 9), it is the company s largest deal since its record US$29.4 billion initial public offering in late 2019.
Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners. Announced late on Friday, it is the company s largest deal since its record $29.4 billion initial public offering in late 2019. The lease and leaseback agreement includes a 49% stake of newly formed Aramco Oil Pipelines Co and rights to 25 years of tariff payments for oil carried on Aramco s pipelines, it said in a statement. Aramco will retain a 51% stake in the new company. EIG, which has invested more than $34 billion in energy and energy infrastructure, was the deal s underwriter and will work with Aramco in the coming days to decide on other parties for the consortium, a source familiar with the deal said.
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DUBAI (Reuters) - Saudi oil producer Aramco has agreed a $12.4 billion deal to sell a 49% stake in its pipelines to a consortium led by U.S.-based EIG Global Energy Partners.
Announced late on Friday, it is the company s largest deal since its record $29.4 billion initial public offering in late 2019.
The lease and leaseback agreement includes a 49% stake of newly formed Aramco Oil Pipelines Co and rights to 25 years of tariff payments for oil carried on Aramco s pipelines, it said in a statement.
Aramco will retain a 51% stake in the new company.
EIG, which has invested more than $34 billion in energy and energy infrastructure, was the deal s underwriter and will work with Aramco in the coming days to decide on other parties for the consortium, a source familiar with the deal said.