Saudi Aramco is preparing a financing package worth up to $ 10 billion that it may offer to the buyer of its unit for pipeline activities, as the oil giant seeks to extract value from its assets, according to Reuters news agency Aramco is in talks with banks to provide seed financing, which is a financing package provided by the seller that buyers can use to support the purchase.
The sources who spoke to Reuters said on condition of anonymity because the talks are private that international investors, including BlackRock, KKR and Brookfield Asset Management, who may invest in Pipeline activity, are also in talks with banks about possible financing.
two sources said the loan could reach $ 10 billion, covering most of the assets' value. Aramco and Brookfield declined to Reuters' request for comment. BlackRock and KKR did not respond to requests for comment.
Sources had previously said that the planned sale of Aramco pipelines would be similar to the infrastructure deals signed last year by the Abu Dhabi National Oil Company (ADNOC), when it collected Billions of dollars in leasing its oil and gas pipeline assets to investors.
Aramco, the world's largest oil company, completed its largest IPO to date in late 2019, raising $ 25.6 billion. It later sold more shares, pushing the total to $ 29.4 billion.
and those funds were transferred to the Public Investment Fund, the Saudi sovereign wealth fund responsible for transforming the economy.
On December 13, Bloomberg said that Saudi Aramco was seeking to sell stakes in subsidiary assets, raising up to $ 10 billion.
Bloomberg sources indicated that Aramco has hired Moelis to arrange the sale of stakes in its subsidiaries, which may include selling stakes in the company's pipelines.
The company announced that it is seeking to reduce the level of debt in the wake of the SABIC acquisition of $ 69 billion.
