{"id":183719,"date":"2021-01-06T20:53:20","date_gmt":"2021-01-06T20:53:20","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=183719"},"modified":"2021-01-06T20:53:32","modified_gmt":"2021-01-06T20:53:32","slug":"aramco-to-raise-billions-from-asset-sales","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/aramco-to-raise-billions-from-asset-sales\/","title":{"rendered":"Aramco to raise billions from asset sales"},"content":{"rendered":"\n<p>Saudi Aramco plans to raise $10 billion from a stake sale in Aramco\u2019s pipelines.<\/p>\n\n\n\n<p>Informed sources said that Aramco, the largest oil company in the world, has hired Moelis &amp; Co. to build a strategy to sell stakes in some subsidiaries.<\/p>\n\n\n\n<p>Moelis declined to comment on the matter, and Aramco did not respond to email requests for comment.<\/p>\n\n\n\n<p>Moelis had assisted Abu National Oil Co. to raise more than $15 billion in 2020 from companies like Apollo Global Management Inc., Brookfield Asset Management Inc. and Singapore\u2019s sovereign wealth fund.<\/p>\n\n\n\n<p>It played a part in almost all the state-owned energy firms&#8217; major asset disposals.<\/p>\n\n\n\n<p>Adnoc, which pumps almost all UAE&#8217;s oil and OPEC\u2019s third-biggest producer, has sold shares in its fuel-retail arm and leasing rights for properties and natural-gas pipelines.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Faster way<\/strong><\/h5>\n\n\n\n<p>Aramco\u2019s initial public offering in December 2019 raised almost $30 billion. however, the process took but took around two years to complete.<\/p>\n\n\n\n<p>The Dhahran-based firm issued $8 billion of bonds last month to fund the world\u2019s biggest dividend. But, its executives have said they want to lower the company\u2019s leverage following its $69 billion acquisition of chemical marker Saudi Basic Industries Corp. this year.&nbsp;<\/p>\n\n\n\n<p>Meanwhile, Bloomberg said in April the energy firm has lined up banks including JPMorgan Chase &amp; Co. to help with a stake sale in the pipeline business.<\/p>\n\n\n\n<p>Moelis was among the banks that arranged Aramco\u2019s IPO. Its founder, Ken Moelis, has long experience of deal-making in the region, to the point he was nicknamed \u201cKen of Arabia.\u201d<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Related:<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.bnreport.com\/saudi-aramco-discovers-4-new-oil-and-gas-fields\/\">Saudi Aramco Discovers 4 New Oil And Gas Fields<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=newssearch&amp;cd=&amp;ved=0ahUKEwjSu9rQl4juAhXJUhUIHelfDG0QxfQBCEAwAg&amp;url=https%3A%2F%2Fwww.dw.com%2Fen%2Fis-saudi-aramco-eyeing-a-step-into-russias-backyard%2Fa-56042138&amp;usg=AOvVaw1gIYA6PNaw_dceuaAWs0eI\">Is Saudi Aramco eyeing a step into Russia&#8217;s backyard?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Aramco plans to raise $10 billion from a stake sale in Aramco\u2019s pipelines. Informed sources said that Aramco, the largest oil company in the world, has hired Moelis &amp; Co. to build a strategy to sell stakes in some subsidiaries. Moelis declined to comment on the matter, and Aramco did not respond to email [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":183720,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[713,278],"class_list":["post-183719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aramco","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aramco to raise billions from asset sales - Business News Report<\/title>\n<meta name=\"description\" content=\"Business News Report - Business - Saudi Aramco plans to raise $10 billion from a stake sale in Aramco\u2019s pipelines.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/aramco-to-raise-billions-from-asset-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco to raise billions from asset sales - 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