Saudi Aramco has reached an agreement with a consortium led by U.S. EIG Global Energy Partners to sell it a 49-percent stake in Aramco Oil Pipelines Co. Aramco Oil Pipelines Co. is a new business entity, formed to keep—or trade—the rights to 25 years of payments of rates for crude transportation across Aramco's pipeline network.
According to EIG, as quoted by Bloomberg, the entity has an equity value of some $25 billion. The Wall Street Journal reported earlier this month Aramco was considering the stake sale, eyeing proceeds of between…Aramco To Sell Pipeline Stake To EIG For $12 Billion
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