KUALA LUMPUR – EIG, one of the world’s leading infrastructure investors, has announced the completion of its previously announced transaction with Saudi Arabian Oil Co (Aramco), under which a consortium of investors acquired a 49% equity stake in Aramco Oil Pipelines Company (Aramco Oil Pipelines).
Aramco Oil Pipelines is a newly formed entity with rights to 25 years of tariff payments for oil transported through Aramco’s stabilised crude oil pipeline network.
The EIG-led co-investment process in Aramco Oil Pipelines attracted a global group of leading institutional investors from China, Saudi Arabia, South Korea, the United Arab Emirates and the United States.
They include, among others, Mubadala Investment Company, an Abu Dhabi sovereign investor; Silk Road Fund; Hassana; and, Samsung Asset Management.
In a statement, EIG chairman and CEO R. Blair Thomas said: “We are pleased to have completed this transaction with Aramco, a pre-eminent global energy supplier.
“The calibre of this marquee global infrastructure asset is further evidenced by the leading investors that have invested alongside EIG.”
HSBC Bank acted as financial adviser to EIG in connection with the transaction, and Latham & Watkins served as EIG’s legal adviser.
EIG, headquartered in Washington DC, is a leading institutional investor in the global energy sector with US$21.7 billion (RM90 billion) under management as of March 31.
More information can be found at the EIG website. – Bernama, June 21, 2021
.jpeg)
