Abu Dhabi Pension Fund (ADPF) and ADQ, one of the region’s largest holding companies, will invest $2.1 billion into select Abu Dhabi National Oil Company (ADNOC) gas pipeline infrastructure assets.
Under the terms of the agreement, ADNOC will divest 20 percent in ADNOC Gas Pipelines HoldCo, a wholly owned ADNOC entity that holds 100 percent of ADNOC’s interest in ADNOC Gas Pipeline Assets, to ADPF and ADQ. ADNOC Gas Pipelines is a subsidiary of ADNOC, with lease rights to 38 gas pipelines covering a total of 982 kilometers (610 miles).
In July, a consortium of global investors, comprising Global Infrastructure Partners, Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board, NH Investment & Securities and Snam, invested $10.1 billion for a collective 49 percent stake in the same select ADNOC gas pipeline infrastructure assets.
ADNOC has sought to accommodate a combination of both international and dom