Deals
BlackRock, Snam Bid for Stake in $15 Billion Adnoc Unit
- KKR, IFM, Ontario Teachers also submitted initial offers
- Abu Dhabi state energy giant could value unit at $15 billion
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BlackRock Inc., KKR & Co. and Italian infrastructure operator Snam SpA are among suitors that made initial bids for a stake in Abu Dhabi National Oil Co.’s natural gas pipelines, which could be valued at about $15 billion, people familiar with the matter said.
They’re competing with other bidders including Australian fund manager IFM Investors Pty and Ontario Teachers Pension Plan that submitted first-round offers in recent days, according to the people. Global Infrastructure Partners and Singapore sovereign fund GIC Pte have also expressed initial interest in acquiring a stake in the business, the people said, asking not to be identified because the information is private.