#Saudi Aramco seeks financing advisor for gas pipeline deal -sources | Reuters

Saudi Aramco seeks financing advisor for gas pipeline deal -sources | Reuters

Saudi Aramco (2222.SE) has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant's second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said.

Aramco has already hired Morgan Stanley (MS.N) as an M&A advisor and the financing advisory role is up for grabs among banks, two of the sources said.

The gas pipeline stake sale will be a "copy paste" of the oil pipeline deal, one of the sources said.

Aramco has used a lease and lease-back agreement to sell a 49% stake of newly formed Aramco Oil Pipelines Co to the buyer and rights to 25 years of tariff payments for oil carried on its pipelines.