Saudi Aramco hires Moelis to raise $10 bln from stake sale in pipeline unit: report

11/12/2020 Argaam

 

Saudi Aramco hired Moelis & Co. to set a strategy for selling a stake in its pipeline business, Bloomberg reported citing people familiar with the matter.  

 

Aramco seeks to raise around $10 billion (SAR 37.5 billion) from the planned stake sale.

 

In October, Reuters reported that the world's largest oil producer was in talks with investors on a planned deal worth over $10 billion to sell a stake in its pipeline business.