Abu Dhabi's Mubadala joins EIG-led consortium buying Aramco pipeline stake

Aramco in April agreed to sell a minority stake in its pipelines for $12.4bln to a consortium led by EIG

  
An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah

DUBAI - Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by U.S.-based EIG Global Energy Partners that had agreed to buy a 49% equity stake in Aramco Oil Pipelines Co.

Aramco in April agreed to sell a minority stake in its pipelines for $12.4 billion to a consortium led by EIG, the company's largest deal since its record $29.4 billion initial public offering in late 2019.

Aramco will keep 51% of the newly formed Aramco Oil Pipelines Co and rights to 25 years of tariff payments for oil carried on Aramco's pipelines.

(Reporting by Saeed Azhar; Editing by Jan Harvey) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))


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