BlackRock dips out of $15B race for Abu Dhabi pipelines
March 25, 2020
BlackRock has left the auction to acquire the natural gas pipelines of Abu Dhabi National Oil Company, according to Reuters. Previous reports had indicated that a deal could value the assets at some $15 billion. Italian infrastructure company Snam, Global Infrastructure Partners and a handful of other firms have reportedly stayed in the bidding. The news comes after BlackRock and KKR bought a 40% stake in Abu Dhabi's oil pipelines last year for $4 billion.