GIP and Brookfield close in on $15bn Abu Dhabi gas pipeline deal | Financial Times:
Global Infrastructure Partners and Brookfield Asset Management are close to taking a stake in the Abu Dhabi National Oil Company’s natural gas pipelines, according to people familiar with the matter.
Under the deal the investors would take a 49 per cent share worth more than $15bn including debt, the people said.
The discussions have been under way for months but a deal now would come just as resource rich-nations are hit by the drop in energy prices and revenues triggered by the coronavirus pandemic.
Adnoc has sold stakes worth billions of dollars in energy infrastructure in recent years as Abu Dhabi seeks to privatise assets to diversify funding streams and attract foreign capital to the emirate’s energy company. This deal would be part of Abu Dhabi’s established revenue maximisation strategy, said one of the people.
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