 "Apollo Global Management, GIP bid for $10-billion Aramco pipeline stake")
Apollo Global Management and Global Infrastructure Partners are among suitors that bid for a roughly $10 billion stake in Saudi Aramco’s oil pipelines, people familiar with the matter said.
Canada’s Brookfield Asset Management, BlackRock, sovereign wealth fund China Investment and Beijing-backed Silk Road Fund have also made non-binding offers, the people said, asking not to be identified as the matter is private.
Pension funds in Abu Dhabi and Saudi Arabia have separately submitted initial bids, the people said.
Aramco is studying the proposals before deciding which companies will be invited to make binding offers, the people said. Bidders may team up later in the process, the people said.
Some prominent family-owned groups in Saudi Arabia are also considering partnering with other investors, according to the people.
Canada’s Brookfield Asset Management, BlackRock, sovereign wealth fund China Investment and Beijing-backed Silk Road Fund have also made non-binding offers, the people said, asking not to be identified as the matter is private.
Pension funds in Abu Dhabi and Saudi Arabia have separately submitted initial bids, the people said.
Also Read
Some prominent family-owned groups in Saudi Arabia are also considering partnering with other investors, according to the people.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%