Abu Dhabi National Oil Company (ADNOC) said on Thursday it had completed a deal for BlackRock and KKR to buy a 40% stake in ADNOC Oil Pipelines for $4 billion. Under the deal, the pipeline company will lease ADNOC's interest in 18 pipelines transporting crude oil and condensates across ADNOC's upstream concessions for 23 years.
KKR and BlackRock's investment, which was first announced in February, was funded through their infrastructure funds and financed by a syndicate of banks, ADNOC said in a statement.
