Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices.
International investors including BlackRock, KKR and Brookfield Asset Management, which could invest in the pipeline business, are also in talks with lenders on possible financing, said the sources, speaking anonymously because the talks are private.
The loan could be up to $10 billion, said two of the sources, covering much of the value of the assets.
Aramco, the world’s biggest oil company, completed the largest initial public offering yet in late 2019, raising $25.6 billion. It later sold more shares, taking the total to $29.4 billion.
Read more at: Reuters
