GIP, Brookfield in Talks to Team Up for Adnoc Gas Pipelines - Bloomberg:
Global Infrastructure Partners and Brookfield Asset Management Inc. are among investors in talks to jointly bid for a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, which could be valued at about $15 billion, people with knowledge of the matter said.
Italian infrastructure operator Snam SpA, Ontario Teachers Pension Plan, Singapore sovereign fund GIC Pte and a Korean firm are in discussions to join the same consortium, which has been pursuing as much as a 49% stake in the assets, the people said.
The group is the only remaining bidder for the stake -- which could rank as one of this year’s largest infrastructure deals globally -- after other parties including Australian fund manager IFM Investors Pty dropped out, the people said. A final deal will depend on whether the consortium can secure financing, which has become more difficult to obtain due to tightening credit markets and the decline in oil, they said.
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