Saudi Arabian Oil Co. (Saudi Aramco) signed, on Dec. 6, a share sale and purchase agreement with a consortium led by BlackRock Real Assets and Hassana Investment Co. to sell an equity stake in Aramco Gas Pipelines Co. for $15.5 billion (SAR 58.1 billion).

 

In a statement to Tadawul, the oil giant said it will at all times retain the title to, and operational control of, the gas pipeline network.

 

Aramco Gas Pipelines is a wholly-owned subsidiary of Saudi Aramco. Under the deal, 49% of the gas firm will be sold to the BlackRock and Hassana Investment-led consortium.

 

The transaction is expected to close as soon as practical, subject to customary closing conditions, including any required merger control and related approvals, the statement said.

 

According to the terms, immediately prior to completion of the transaction, Saudi Aramco will lease for a 20-year period the usage rights in its gas pipelines network to Aramco Gas Pipelines.

 

Concurrently, Aramco Gas Pipelines will grant Saudi Aramco the exclusive right to use, operate and maintain the gas pipeline network during the 20-year period, in exchange for a quarterly tariff payable by Saudi Aramco.

 

The tariff will be backed by a minimum level of gas throughput, the statement said, noting that the transaction will not impose any restrictions on Saudi Aramco’s actual production volumes.

 

Upon closing of the transaction, the purchaser will pay Saudi Aramco $15.5 billion for a 49% equity interest in Aramco Gas Pipelines.

 

Transaction’s closing is subject to customary closing conditions, including any required merger control and related approvals.

 

Saudi Aramco and GEPIF III Finance III Lux S.à r.l. (a consortium led by BlackRock Real Assets and Hassana Investment Co.) are parties to the transaction.

 

Aramco Gas Pipelines has registered capital of SAR 100,000 ($26,667), and the company’s anticipated asset book value at closing will be $31.6 billion (SAR 118.6 billion).

 

According to the statement, the deal aims to align Saudi Aramco’s existing portfolio of assets with its growth strategy.

 

Upon closing of the transaction, Saudi Aramco will receive $15.5 billion in cash, and the purchaser’s stake in Aramco Gas Pipelines will be recorded at the same value as a non-controlling interest within equity in Saudi Aramco’s consolidated balance sheet.

 

The proceeds will be used for general corporate purposes, the statement noted.

Comments 8

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1
332

العائد ١٠ % والسهم الايام الماضيه يركع تحت وطأة الليمت داون 

اعلى عوائد استثماريه في اسواق المال في العالم 

ياعمي مشان الله خلصونا من المحافظ الاجنبيه حرقوا بيزاتنا

ما نباهم ما نبي عائد ١٠ % نبي ٥ % تكفي بس رؤوس اموالنا ما تحترق

من ورا محافظهم الاجنبيه 

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1
189

Hawii

منذ 5 سنه
Replying to   الحقيقه الماليه

عائد 10% اليوم يمكن ما يوزع السنة الجاي

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10
411

ayman

منذ 5 سنه

ابوظبي الاول 74%

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1
168

malmarzooqi12

منذ 5 سنه
Replying to   ayman

عزيزي انت فاهم الموضوع غلط.. في فرق بين النسبة من رأس المال وبين النسبة على السعر الحالي للسهم

 

74% ابوظبي الاول هذي التوزيعات من رأس المال يعني 74 فلس

فإذا قلنا سعر السهم اليوم 9.39 .. فإذا قسمنا 74 فلس على 9.39 درهم ..نسبة التوزيعات تكون 7.8%

4
4
1343

UAE2030

منذ 5 سنه

اذا يوزع ٥% السنة الجاية ممتاز لانه 10+5=15% / 2= 7.5% average for this year and next year 

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1
295

العبري

منذ 5 سنه
خلنا في هذه السنه
6
1
295

العبري

منذ 5 سنه
والسنه الجايه الله يفرجها
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mhfakhra

منذ 5 سنه
والله جبت الاخر يا الحقيقية المالية. .اسهمنا jumping trade
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