{"id":84071,"date":"2025-01-29T00:00:00","date_gmt":"2025-01-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/01\/29\/lunate-inches-closer-to-adnoc-gas-pipelines-minority-acquisition\/"},"modified":"2025-01-29T00:00:00","modified_gmt":"2025-01-29T00:00:00","slug":"lunate-inches-closer-to-adnoc-gas-pipelines-minority-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/01\/29\/lunate-inches-closer-to-adnoc-gas-pipelines-minority-acquisition\/","title":{"rendered":"Lunate inches closer to Adnoc Gas Pipelines' minority acquisition"},"content":{"rendered":"

Lunate set to <\/strong>buy <\/strong>Italy\u2019s Snam\u2019s minority stake in Adnoc Gas Pipelines: <\/strong>ADQ-backed alternative investment firm Lunate<\/a> is set to acquire a 6% stake in Adnoc Gas Pipelines<\/a> indirectly held by Italian gas network operator Snam SpA<\/a> for an undisclosed sum through Lunate\u2019s Long-Term Capital Fund I<\/a>, according to a joint statement (pdf)<\/a>. There\u2019s no publicly available information about the size of the transaction. <\/p>\n

REFRESHER- <\/strong>Snam has been mulling the sale<\/a> of its entire minority stake in Adnoc \u2014 which it holds indirectly \u2014 since last year as part of a broader rationalization strategy to divest from non-core assets outside European energy corridors. <\/p>\n

Pending signatures: <\/strong>The move remains subject to the signing of a definitive sale and purchase agreement along with securing the necessary regulatory approvals, including potential shareholder rights exercises. <\/p>\n

Lunate \u2665\ufe0f Adnoc: <\/strong>Lunate has previously acquired a 40% stake in Adnoc\u2019s oil pipeline<\/a> asset network from US private equity giants BlackRock and KKR & Co. back in April. <\/p>\n

More of the shares could be up for grabs soon: <\/strong>Global Infrastructure Partners (GIP) \u2014 Adnoc Gas Pipelines\u2019 largest foreign stakeholder \u2014 is said to be working with advisors to gauge interest in its holding, sources told Bloomberg<\/a> last year. A GIP-led consortium had acquired 49% of the company in 2020 in a transaction that valued the entire network, including debt, at almost USD 21 bn.<\/p>\n

About Adnoc Gas Pipelines\u2019 portfolio:<\/strong> The Adnoc subsidiary\u2019s portfolio includes a network of 38 gas pipelines spanning 982 km across the UAE, playing a significant role in connecting upstream assets to domestic off-takers. <\/p>\n","protected":false},"excerpt":{"rendered":"

The size of the investment was not disclosed<\/p>\n","protected":false},"author":1,"featured_media":84072,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[183,137,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adnoc","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"7ad37680-1809-4d33-8f74-84ae35dcf2ef","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2549.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lunate inches closer to Adnoc Gas Pipelines' minority acquisition","related_issue":[84063],"teaser":"The size of the investment was not disclosed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.31fec1bb-6ee9-470a-b81d-f7cb6be49473.mp3"},"yoast_head":"\nLunate inches closer to Adnoc Gas Pipelines' minority acquisition - 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