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EIG-Led Consortium Closes $12.4 Billion Infrastructure Deal with Aramco

6/18/2021

Press Release EIG

Consortium comprised of a cross-section of renowned investors from North America, Asia and the Middle East

EIG, a leading institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today announced the closing of its previously announced transaction with Saudi Arabian Oil Co. (“Aramco”), under which a consortium of investors acquired a 49% equity stake in Aramco Oil Pipelines Company (“Aramco Oil Pipelines”), a newly formed entity with rights to 25 years of tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network.

The EIG-led co-investment process in Aramco Oil Pipelines attracted a global group of leading institutional investors from China, the Kingdom of Saudi Arabia, Korea, the United Arab Emirates and the United States including, amongst others, Mubadala Investment Company, an Abu Dhabi Sovereign Investor, Silk Road Fund, Hassana and Samsung Asset Management.

R. Blair Thomas, EIG Chairman and CEO, said: “We are pleased to have completed this transaction with Aramco, a preeminent global energy supplier. The caliber of this marquee global infrastructure asset is further evidenced by the leading investors that have invested alongside EIG. We are honored to be working with this world-class consortium and look forward to a long-term, fruitful partnership.”

HSBC Bank plc acted as financial advisor to EIG in connection with the transaction, and Latham & Watkins served as EIG’s legal advisor.