Brookfield Bags the Biggest Energy Infrastructure Deal of 2020
A consortium of six investors, including Brookfield Asset Management (NYSE: BAM), has agreed to a massive energy infrastructure deal. The group will invest $10.1 billion into a natural gas pipeline business in the United Arab Emirates. It's the biggest-ever energy infrastructure investment in the region and the largest such deal of 2020.
The Brookfield consortium will pay $10.1 billion for a 49% stake in a newly formed subsidiary of Abu Dhabi National Oil Company (ADNOC), valuing the assets at $20.7 billion. ADNOC will retain the other 51% stake in the business, known as ADNOC Gas Pipeline Assets. That subsidiary will hold the lease rights to 38 gas pipelines that support ADNOC's operations. The national oil company will manage the pipeline operations as well as remain responsible for capital spending.
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Source Fool.com
