Saturday, 10 April, 2021 - 05:00 Asharq Al-Awsat Saudi Aramco has entered into a $12.4 billion deal with a consortium of investors led by EIG Global Energy Partners that would give the investor group a 49% stake in Aramco's pipeline assets, the two companies said. The EIG-led group signed a lease and lease-back agreement with Aramco, acquiring the equity stake in the newly formed Aramco Oil Pipelines Co, with rights to 25-years of tariff payments for oil transported through Aramco's crude oil pipeline network, it said in a statement. Aramco will own 51% stake in the new company. "Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally," the company said in a statement late Friday.