BlackRock, KKR Near Sale of Adnoc Oil Pipeline Stake to ADQ
- Asset managers near sale of multibillion-dollar holding
- Abu Dhabi’s newest sovereign fund may seal deal this week
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BlackRock Inc. and KKR & Co. are nearing a deal to sell their multibillion-dollar stake in Abu Dhabi National Oil Co.’s oil pipeline network to local sovereign wealth fund ADQ, people with knowledge of the matter said.
The private equity firms are set to divest the combined 40% holding in Adnoc Oil Pipelines to Abu Dhabi’s ADQ as early as this week, the people said, asking not to be identified discussing confidential information. The stake is set to fetch more than $4 billion including debt, the people said.