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.
Brookfield, BlackRock no longer in race for over US$10 billion Aramco pipeline stake - sources channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
Brookfield, BlackRock no longer in race for over $10bln Aramco pipeline stake - sources zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
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.