BlackRock, KKR close to sale of ADNOC oil pipeline stake to ADQ

Dubai: BlackRock and KKR & Co. are nearing a deal to promote their multibillion-dollar stake in Abu Dhabi Nationwide Oil Co.’s oil pipeline community to native sovereign wealth fund ADQ, folks with data of the matter stated.

The non-public fairness corporations are set to divest the mixed 40 per cent holding in ADNOC Oil Pipelines to Abu Dhabi’s ADQ as early as this week, the folks stated, asking to not be recognized discussing confidential data. The stake is about to fetch greater than $4 billion together with debt, the folks stated.