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Aramco seeks to follow ADNOC s lead raising cash from asset sales

Aramco seeks to follow ADNOC’s 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 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.

Kushner Cos spent the Trump years unwinding scion s costly bets | Business

Kushner Cos spent the Trump years unwinding scion s costly bets | Business
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Moelis Gets Mandate with Saudi Aramco on Selling Stakes in Units

Moelis Gets Mandate with Saudi Aramco on Selling Stakes in Units Posted on 12/10/2020 Saudi Aramco (Saudi Arabian Oil Company) is the world’s biggest oil company and has been negatively hurt by a long-term slump in oil prices exacerbated by the COVID-19 lockdowns (kills global oil demand). Saudi Aramco hired Moelis & Co. to formulate a strategy for selling stakes in some subsidiaries. The plan includes raising around US$ 10 billion from a stake sale in Aramco’s pipelines. Ken Moelis has a nickname in the Arab region as “Ken of Arabia”. Despite massive recent drops in profits, Saudi Aramco remains the crown jewel for the country as the oil giant is keen on paying its massive “guaranteed” dividend payments.

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