Aramco, the state-owned energy giant of Saudi Arabia, and an international investor consortium reached an agreement on a share sale and purchase deal in which the consortium paid $12.4 billion for a 49 percent stake in Aramco Oil Pipelines Company, a subsidiary of Aramco, according to Energy Terminal of Anadolu Agency.
Aramco Oil Pipelines Company and Aramco signed into a 25-year lease and leaseback deal for Aramco’s stabilized crude oil pipelines network, which was initially announced in April 2021.
Aramco maintains full ownership and operational management of its stabilized crude oil pipeline network, with a %51 majority stake in Aramco Oil Pipelines Company.
Amin H. Nasser, President & CEO of Aramco, said that the deal is an important milestone that indicates the value of the assets and opens the path for the portfolio optimization strategy.
“We plan to continue to explore opportunities to capitalize on our industry-leading capabilities and attract the right type of investment to Saudi Arabia,” the CEO of Aramco also added.
The international investor consortium contains a diverse group of investors from North America, Asia, and the Middle East. Aramco Oil Pipelines drew a global group of major institutional investors from China, the Kingdom of Saudi Arabia, Korea, the United Arab Emirates, and the United States including, amongst others, Mubadala Investment Company, an Abu Dhabi Sovereign Investor, Silk Road Fund, Hassana and Samsung Asset Management and EIG.