GIP, Snam Said to Mull Exit From $21 Billion Adnoc Gas Pipe Unit [BNN Bloomberg (Canada)]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: BNN Bloomberg
GIP, the biggest foreign shareholder in Adnoc Gas Pipeline Assets LLC, is working with advisers as it prepares to gauge interest in the holding, the people said. Snam, an Italian gas network operator that owns about 6%, has also been weighing an exit, according to the people. Abu Dhabi investment firm Lunate has reached out to some of Adnoc Gas Pipeline's key owners to express interest in buying their stakes, the people said. Some of the investors are still deliberating whether to sell their holdings or keep them for longer, the people said, asking not to be identified discussing private information. GIP led a group of foreign buyers that agreed in 2020 to invest in the pipeline network at a valuation of nearly $21 billion including debt. The consortium — which also included Brookfield Asset Management, Singapore sovereign wealth fund GIC Pte, Ontario Teachers' Pension Plan and South Korea's NH Investment & Securities Co. — bought a 49% stake for about $10.1 billion. Under the
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Earnings
- 5/9/24 - Miss
BN
Sec Filings
- 6/21/24 - Form 6-K
- 6/18/24 - Form 6-K
- 6/18/24 - Form 6-K
- BN's page on the SEC website