By Stanley Carvalho, Saeed Azhar and Hadeel Al Sayegh
ABU DHABI/DUBAI (Reuters) - Abu Dhabi's national oil company is weighing proposals from Goldman Sachs, First Abu Dhabi Bank, HSBC and JPMorgan for lead roles in the listing of its retail unit as the emirate joins other Gulf states in privatising assets, sources familiar with the matter said.
Rothschild is separately in a strong position for an advisory role in a deal that could raise $1.5 to $2 billion, sources told Reuters.
The listing of Abu Dhabi National Oil Co's (ADNOC) Distribution, which manages 300 petrol stations as well as convenience stores across the United Arab Emirates (UAE), is planned before the end of the year, one of the sources told Reuters.
The pitching process for the deal is under way after unlisted ADNOC announced this week that it is looking to float some of its services businesses and enter tie-ups with global investors to help it create new revenue streams and secure more market access.
Ten banks have been invited to pitch for a role in the IPO, one of the sources said.
The banks either declined to comment or did not immediately respond to Reuters requests for comments.
(Editing by Keith Weir)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)