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Aramco Selling $12.4 Billion Stake in Pipeline Rights Unit

EIG-led group to acquire 49% in newly formed Aramco entity
Deal involves 25-year lease-and-lease-back agreement

By

Gerson Freitas Jr

April 9, 2021, 9:08 PM UTCUpdated onApril 9, 2021, 10:45 PM UTC

Investors led by EIG Global Energy Partners LLC agreed to acquire a roughly $12.4 billion stake in a Saudi Aramco oil-pipeline rights company.

The group will acquire a 49% equity stake in Aramco Oil Pipelines Co., a newly formed entity with rights to 25 years of rate payments for oil shipped through the Saudi oil giant’s network of conduits, EIG said in a statement. The deal implies a total equity value of about $25 billion for Aramco Oil Pipelines.