UAE’s Mubadala may join US$12bil Aramco deal

TheStar Tue, Apr 13, 2021 10:40am - 3 years View Original


Foreign-buying: A file picture showing Aramco engineers working in Saudi Arabia. Investors will buy 49% of Aramco Oil Pipelines which is a recently-formed entity. — AFP

ABU DHABI: An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco’s oil pipelines, in a deal set to be backed by a loan of around US$10.5bil (RM43bil).

Mubadala Investment Co, a fund with US$232bil of assets, is in talks with US investor EIG Global Energy Partners LLC, the lead member of the consortium, according to a Mubadala spokesperson.

Aramco has helped put together the loan, which the group will use to fund the transaction, according to sources.

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