Saudi Aramco pipeline stake garners interest from 3 firms, say sources

Logo of Saudi Aramco

Brookfield Asset Management Inc. and KKR & Co. are looking to buy a stake in Saudi Aramco’s oil pipelines, Bloomberg reported, citing people familiar with the matter.

Apollo Global Management is also weighing options whether to make an offer, the sources said, adding that the sale could also draw interest from Chinese investment funds, as some bidders may team up given the size of the transaction.

Aramco has asked the companies that expressed their interest in buying a stake in their pipelines business to submit non-binding offers before the end of February.

Discussions are still ongoing and details may change over time, the sources indicated.

According to the data compiled by Argaam, Aramco has recently commissioned Moelis & Co. to sell a stake in its pipeline business.

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