Apollo Global Management and Global Infrastructure Partners (GIP) are reportedly among companies that have placed a bid for a $10bn stake in Saudi Aramco’s oil pipelines.
Brookfield Asset Management, investment management company BlackRock, China Investment, and Silk Road Fund also made non-binding offers for these assets, Bloomberg reported, citing undisclosed sources.
The report added that pension funds in Abu Dhabi and Saudi Arabia have also separately submitted the initial bids.
Saudi Aramco is considering selling the asset to maintain its $75bn of annual dividend payments, a large part of which goes to the Saudi Government.
Source: Hydrocarbons Technology News
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.