2023-07-12 16:32:32 ET
BlackRock ( NYSE: BLK ) and KKR ( NYSE: KKR ) are nearing a deal to sell their multibillion-dollar stake in ADNOC's oil pipeline network to Abu Dhabi's ADQ sovereign wealth fund, in a deal that could be announced as soon as this week, Bloomberg reported Wednesday.
The P-E equity firms are set to fetch more than $4B including debt in a sale, according to the report.
BlackRock ( BLK ) and KKR ( KKR ) bought the stake in Adnoc Oil Pipelines four years ago in what was the first investment by foreign asset managers in the infrastructure of a state-owned oil producer in the Middle East.
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For further details see:
BlackRock, KKR near sale of ADNOC oil pipeline stake - Bloomberg