2023-07-13 09:02:31
ABU DHABI – Mubasher: Informed sources said that BlackRock and KKR are close to concluding a deal to sell their multibillion-dollar stake in ADNOC’s oil pipeline network, and ADQ is the buyer.
The sources indicated that the two companies are set to give up their combined stake of 40 percent to the holding company early this week.
The stake is set to bring in more than $4 billion, including debt, according to Bloomberg.
The “Holding” ADQ, whose board of directors is chaired by Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser in the United Arab Emirates and Deputy Ruler of the Emirate of Abu Dhabi, acquired in April 2022 shares in 5 companies listed on the Egyptian Stock Exchange for about $1.8 billion from Banque Misr, And the National Bank of Egypt.
The deals included the acquisition of stakes in the “Abu Qir Fertilizers” companies by about 21.5 percent, 20 percent of the shares of Egypt for Fertilizer Production “Mopco”, 32 percent of the shares of Alexandria Container Handling, about 17 percent of the shares of the “Commercial International Bank”, and 12.6 percent of the shares. Fawry shares.
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