BlackRock and KKR & Co. have divested their 40% stake in ADNOC Oil Pipelines (AOP) to Lunate, a burgeoning investment entity based in Abu Dhabi with a portfolio of $105bn in assets under management.
(Bloomberg) BlackRock Inc. and KKR & Co. are nearing a deal to sell their multibillion-dollar stake in Abu Dhabi National Oil Co.’s oil pipeline network to local sovereign wealth fund ADQ, people with knowledge of the matter said. Most Read from BloombergSingapore Minister Faces Most Serious Graft Probe Since 1986DeSantis Says No Thanks to $377 Million in US Energy FundsFund Titans Are Betting on Everything Gaining Against the DollarNATO Is Papering Over the Cracks After Zelenskiy Loses His C
The firms bought the stake in Adnoc Oil Pipelines four years ago in what was the first investment by foreign asset managers in the infrastructure of a state-owned oil producer in the Middle East.