Infrastructure has been one of the few bright spots for dealmakers since the coronavirus outbreak led to a sharp downturn in mergers and acquisitions. The volume of such deals increased in the first quarter by almost 20% year-on-year to US$81 billion, according to data provider Preqin.
(June 23): Abu Dhabi sold a US$10.1 billion (S$14.08 billion) stake in its natural-gas pipelines to a consortium led by Global Infrastructure Partners, in the biggest infrastructure acquisition so far this year.
The investors, including Brookfield Asset Management Inc. and Singapore’s sovereign wealth fund, will buy a 49% holding in a new subsidiary for the pipelines from Abu Dhabi National Oil Co., which will retain the rest of the shares, the state-owned energy producer said in a statement Tuesday.
