Aramco continues to hold a 51% majority stake in the subsidiary and retains full ownership and operational control of its stabilized crude oil pipeline network
Riyadh, June 22 - Neftegaz.RU. Saudi Aramco
has completed the sale of a 49% stake in the newly formed Aramco Oil Pipelines for $12.4 billion to an international investor consortium led by the U.S.-headquartered EIG.
It represents a continuation of Aramco’s strategy to unlock the potential of its asset base and maximize value for its shareholders, it said in a statement.
A newly-formed unit called Aramco Oil Pipelines Company will lease usage rights in Aramco’s stabilized crude oil
pipelines network for a 25-year period.
Saudi Aramco said the deal was one of the world’s largest energy infrastructure deals.
The sale is in line with its plans to «unlock value and maximise shareholder returns».
Aramco president and CEO Amin Nasser
- We are pleased to conclude this transaction with the global consortium
The interest we have received from investors shows strong confidence in our operations and the long-term outlook for our business
The sale is a significant milestone that reflects the value of our assets and paves the way forward for our portfolio optimization strategy
We plan to continue to explore opportunities to capitalise on our industry-leading capabilities and attract the right type of investment to Saudi Arabia
The EIG-led co-investment process in Aramco Oil Pipelines gathers a global group of institutional investors from China, Saudi Arabia, Korea, the United Arab Emirates and the U.S., including, amongst others, Mubadala Investment, Silk Road Fund, Hassana and Samsung