Abu Dhabi Sells $10 Billion Stake in Pipelines to Consortium - Bloomberg:
Abu Dhabi sold a $10.1 billion stake in its natural-gas pipelines to a group of six investors including Global Infrastructure Partners, Brookfield Asset Management Inc. and Singapore’s sovereign wealth fund, in the biggest infrastructure acquisition so far this year.
The buyers will have a 49% holding in a new subsidiary for the pipelines set up by Abu Dhabi National Oil Co., which will retain the rest of the shares, the state-owned energy producer said in a statement Tuesday.
Infrastructure has been one of the few bright spots for dealmakers since the coronavirus outbreak led to a sharp downturn in mergers and acquisitions. The volume of such deals increased in the first quarter by almost 20% year-on-year to $81 billion, according to data provider Preqin.
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