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Abu Dhabi's Lunate acquires 40% stake in ADNOC's pipeline assets
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Abu Dhabi's Lunate acquires 40% stake in ADNOC's pipeline assets
Apr 3, 2024 1:06 AM

DUBAI, April 3 (Reuters) - Abu Dhabi alternative

investor Lunate on Wednesday said it acquired a 40% stake in Abu

Dhabi National Oil Company's oil pipeline infrastructure assets

from BlackRock ( BLK ) and KKR.

The acquisition was made by one of Lunate's funds, which the

company said was executed through the purchase of a 100% stake

in a special purpose vehicle jointly held by the two companies'

managed funds, Lunate said in a statement.

The terms and value of the deal were not disclosed.

ADNOC Oil Pipelines was set up in 2019 to lease ADNOC's

ownership interests in 22 pipelines, transporting crude oil and

condensates across ADNOC's upstream concessions for a 23-year

period.

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