BlackRock and KKR together hold 40 percent of the newly formed entity ADNOC Oil Pipelines, while ADRPBF holds 3 percent, GIC 6 percent and ADNOC the remaining 51 percent.
The statement added that the sovereignty over the pipelines and the management of pipeline operations will remain with ADNOC.
Ahmed Jasim Al Zaabi, Group Director Finance and Investment at ADNOC commented: “The successful final closing of this landmark transaction is a clear vote of confidence by the global investment community in both the UAE and ADNOC as attractive investment destinations.”
“The caliber of these leading global and domestic investors underlines the quality and attractiveness of ADNOC’s infrastructure assets and our ability to efficiently structure and close value-creating investment opportunities for our partners and investors,” he added.
(Reporting by Gerard Aoun; Editing by Mily Chakrabarty)
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