{"id":95538,"date":"2024-09-06T00:00:00","date_gmt":"2024-09-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-and-adnoc-are-feeling-acquisitive\/"},"modified":"2024-09-06T00:00:00","modified_gmt":"2024-09-06T00:00:00","slug":"masdar-and-adnoc-are-feeling-acquisitive","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/06\/masdar-and-adnoc-are-feeling-acquisitive\/","title":{"rendered":"Masdar and Adnoc are feeling acquisitive"},"content":{"rendered":"

This M&A heavy week roars to a close with news that two of the nation\u2019s <\/strong>biggest energy giants <\/strong>have even deeper transaction pipelines than we\u2019d previously thought. <\/p>\n

UP FIRST- Masdar is close to snagging a stake in Spain\u2019s Saeta Yield: <\/strong>Brookfield<\/a> is nearing an agreement to sell its stake in Spanish renewables firm Saeta Yield<\/a> to Masdar, Spanish news outlet Expansion<\/a> reported on Tuesday. The transaction could be valued at over EUR 1.5 bn (USD 1.66 bn), it quotes sources as saying. It did not provide further details.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

ICYMI- <\/strong>State-owned renewables giant Masdar was set to submit a final bid to acquire Brookfield\u2019s Saeta Yield earlier in July<\/a>. Saeta Yield, which Brookfield acquired from ACS for EUR 1 bn<\/a> in 2018, owns a portfolio of 28 wind farms, 10 photovoltaic parks, and seven solar thermal plants across Spain and Portugal with a total capacity of 1.2 GW. The acquisition will include the entire renewables portfolio, excluding its solar thermal plants. <\/p>\n

Part of a deeper push into Europe: <\/strong>In July, Masdar lined up a transaction<\/a> that would see it acquire a 50% stake in Spanish power firm Endesa\u2019s solar power installations subsidiary EPGE Solar for AED 3.3 bn. The acquisition will make Masdar a partner in 2.5 GW of renewable energy assets in Spain. The company is looking at acquisitions<\/a> of both minority and controlling stakes in Europe's green energy sector, with the continent set to be a crucial part of its plan to reach its 100 GW target capacity by 2030, CFO Mazin Khan told Reuters in July.<\/p>\n

ADVISORS- <\/strong>Brookfield, which started the sale process<\/a> last December, had tapped Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Group and Santander Bank to advise on the transaction.<\/p>\n

\n

Adnoc looking at Shell\u2019s distribution network in South Africa?<\/p>\n

Adnoc is vying for Shell\u2019s downstream assets in South Africa<\/strong>, Bloomberg<\/a> reports, citing sources it says are familiar with the matter. Shell is looking to raise some USD 1 bn from the sale and could make a decision by year-end, though the process may extend into 2025, according to sources. A shortlist of bidders is expected to be out soon, with binding offers anticipated by December.<\/p>\n

Not the first time we\u2019ve heard this: <\/strong>A report<\/a> in May suggested the Emirati oil giant was mulling the acquisition, which was then valued at USD 800 mn. <\/p>\n

A head-to-head race with Aramco? <\/strong>Saudi oil giant Aramco is reportedly interested in bidding. Aramco has been particularly acquisitive in the distribution end of the industry lately, making acquisitions in Pakistan<\/a> and Chile<\/a> this year and signaling that it\u2019s looking for more exposure to similar assets in Africa and Southeast Asia<\/a>, EnterpriseAM Saudi has previously noted. <\/p>\n

Other bidders? <\/strong>Global commodities trader Trafigura could be interested. Long-shot players could also be interested, including Omani energy firm OQ, South Africa\u2019s Central Energy Fund, and South Africa\u2019s chemicals and energy player Sasol, according to Bloomberg.<\/p>\n

BACKGROUND- Shell <\/strong>confirmed in May<\/a><\/strong> that it\u2019s looking to sell its South Africa <\/strong>downstream assets<\/strong>, which include its aviation, marine, construction and road, trading and supply, commercial fuels, and lubricant operations. Shell owns a network of 600 stations across the country.<\/p>\n

ADVISORS- <\/strong>Shell is reported to have tapped Rothschild to work on the sale. <\/p>\n","protected":false},"excerpt":{"rendered":"

Adnoc could be going head-to-head with Aramco in South Africa<\/p>\n","protected":false},"author":1,"featured_media":95539,"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":[2392],"tags":[7,60,171,211,1499],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ma-watch","tag-masdar","tag-renewables","tag-saeta-yield","wpautop","entry"],"acf":{"mongo_id":"d6f297a0-e7df-457d-a0fc-f39cf926e544","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1452.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar to purchase EUR 1.5 bn stake in Spanish Saeta Yield while Adnoc circles Shell\u2019s downstream assets in South Africa","related_issue":[95531],"teaser":"Adnoc could be going head-to-head with Aramco in South Africa","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.4ec24595-1c07-43a8-a74f-90b9e12a7927.mp3"},"yoast_head":"\nMasdar and Adnoc are feeling acquisitive - 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