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Wednesday, 12 July 2017

Goldman, JPMorgan, HSBC in race for lead roles on UAE ADNOC retail unit IPO: sources | Reuters

Goldman, JPMorgan, HSBC in race for lead roles on UAE ADNOC retail unit IPO: sources | Reuters:

"Abu Dhabi's national oil company is weighing proposals from Goldman Sachs, First Abu Dhabi Bank, HSBC and JPMorgan for lead roles in the listing of its retail unit as the emirate joins other Gulf states in privatizing assets, sources familiar with the matter said. Rothschild is separately in a strong position for an advisory role in a deal that could raise $1.5 to $2 billion, sources told Reuters. The listing of Abu Dhabi National Oil Co's (ADNOC) Distribution, which manages 300 petrol stations as well as convenience stores across the United Arab Emirates (UAE), is planned before the end of the year, one of the sources told Reuters."



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