Font Size

- Aa +

Sun 14 Apr 2019 11:15 AM

Font Size

- Aa +

Abu Dhabi Pension Fund announces $300m investment in Adnoc pipelines

The fund will acquire a 3% stake in Adnoc Oil Pipelines

Abu Dhabi Pension Fund announces $300m investment in Adnoc pipelines

Abu Dhabi Retirement Pensions and Benefits Fund agreed to invest $300 million in Abu Dhabi National Oil Co.’s midstream pipeline assets, following investments from KKR & Co. and BlackRock Inc.

The fund will acquire a 3 percent stake in Adnoc Oil Pipelines, with BlackRock and KKR together holding 40 percent and Adnoc 57 percent, according to a statement.

KKR and BlackRock in February agreed to invest $4 billion in Abu Dhabi’s oil pipelines, securing two decades of guaranteed returns.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.