Latest news with #ADNOCGasPipelines
Zawya
31-01-2025
- Business
- Zawya
Lunate plans equity acquisition in ADNOC Gas Pipelines from Snam
UAE: Abu Dhabi-based Lunate intends to acquire a minority stake in ADNOC Gas Pipelines that is indirectly held by Europe's gas infrastructure operator Snam, according to a press release. Lunate is a global alternative investment manager with $105 billion in assets under management (AUM). Meanwhile, the transaction is subject to the signing of the sale and purchase agreement as well as to the potential exercise of the relevant shareholders' rights. The equity takeover transaction will be made through Lunate's Long-Term Capital Fund I that aims to provide investors with attractive cash yields and long-term capital appreciation. ADNOC Gas Pipelines, a subsidiary of ADNOC, has lease rights to 38 pipelines covering a total of 982 kilometres across the UAE. The gas pipeline network serves as a strategic link connecting ADNOC's upstream assets to local UAE off-takers. It represents a high-quality and essential asset that generates stable and predictable cash flows in a critical sector and is a major contributor to the UAE's energy infrastructure strategy. The CEO of Snam, Stefano Venier, said: 'The sale of the stake in ADNOC Gas Pipelines is consistent with the recently presented strategic plan, which focuses on the development of a pan-European multi-molecule 2025-2029 infrastructure.' Venier noted: 'In this perspective, the rotation of some assets not located along the key European energy corridors where we operate in, allows us to capitalize their value." Meanwhile, Lunate's Managing Partner, Murtaza Hussain, said: 'ADNOC Gas Pipelines is a key asset within the UAE's energy infrastructure system. We are pleased to strengthen our partnership with ADNOC through this investment and deliver on Lunate's mandate to offer investors access to high quality assets.' It is worth noting that Snam acquired its stake in ADNOC Gas Pipelines in 2020, along with other consortium partners, including GIP, GIC, Brookfield Asset Management, Ontario Teachers' Pension Plan Board and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited. Over this period, Snam has leveraged its industrial skills, know-how and innovative solutions in natural gas management to bring value to the asset and the UAE's wider energy system. In July 2024, Lunate Capital launched the Chimera J.P. Morgan Global Sukuk ETF as an exchange-traded fund (ETF) on the Abu Dhabi Securities Exchange (ADX). Source: Mubasher
Gulf Business
29-01-2025
- Business
- Gulf Business
Lunate to acquire minority stake in ADNOC Gas Pipelines
Image: Lunate The transaction, which is subject to the signing of a sale and purchase agreement and the potential exercise of relevant shareholders' rights, will be conducted through Lunate's Long-Term Capital Fund I. This fund aims to provide investors with attractive cash yields and long-term capital appreciation. ADNOC Gas Pipelines, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), holds lease rights to 38 pipelines spanning a total of 982 kilometres across the UAE. The gas pipeline network serves as a vital connection between ADNOC's upstream assets and local UAE off-takers. The pipelines represent an essential asset, generating stable and predictable cash flows in a critical sector, and play a significant role in the UAE's broader energy infrastructure strategy. Snam's sale of stake to Lunate aligns with its strategic plan Snam initially acquired its stake in ADNOC Gas Pipelines in 2020, as part of a consortium including Global Infrastructure Partners (GIP), GIC, Brookfield Asset Management, Ontario Teachers' Pension Plan Board, and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited. During its ownership, Snam has applied its industrial expertise and innovative solutions in natural gas management to add value to the asset and contribute to the UAE's energy system. Stefano Venier, CEO of Snam, commented, 'The sale of the stake in ADNOC Gas Pipelines is consistent with the recently presented strategic plan, which focuses on the development of a pan-European multi-molecule 2025-2029 infrastructure. In this perspective, the rotation of some assets not located along the key European energy corridors where we operate in, allows us to capitalise on their value.' Murtaza Hussain, managing partner at Lunate, said, 'ADNOC Gas Pipelines is a key asset within the UAE's energy infrastructure system. We are pleased to strengthen our partnership with
Reuters
28-01-2025
- Business
- Reuters
Snam to sell stake in ADNOC gas pipelines to Abu Dhabi's Lunate
MILAN, Jan 28 (Reuters) - Italy's gas grid operator Snam ( opens new tab will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said on Tuesday. The deal is in line with the Italian group's long-term strategy to strengthen its role in Europe and reduce exposure to assets not located along the key European energy corridors. "The sale of the stake in ADNOC Gas Pipelines is consistent with the recently presented strategic plan, which focuses on the development of a pan-European multi-molecule infrastructure," Snam's CEO Stefano Venier said in a statement. ADNOC Gas Pipelines, a subsidiary of Abu Dhabi National Company (ADNOC), has lease rights to 38 pipelines covering a total of 982 km (610 miles) across the United Arab Emirates. Snam acquired an indirect stake of nearly 6% in the company in 2020, along with other consortium partners, including international funds GIP, GIC, Brookfield Asset Management, Ontario Teachers' Pension Plan Board and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited. Snam did not provide any figure for the financial value of the transaction. According to a source, the finalisation of the deal will result in a capital gain for Snam.
Zawya
28-01-2025
- Business
- Zawya
Snam to sell stake in ADNOC gas pipelines to Abu Dhabi's Lunate
MILAN - Italy's gas grid operator Snam will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said on Tuesday. The deal is in line with the Italian group's long-term strategy to strengthen its role in Europe and reduce exposure to assets not located along the key European energy corridors. "The sale of the stake in ADNOC Gas Pipelines is consistent with the recently presented strategic plan, which focuses on the development of a pan-European multi-molecule infrastructure," Snam's CEO Stefano Venier said in a statement. ADNOC Gas Pipelines, a subsidiary of Abu Dhabi National Company (ADNOC), has lease rights to 38 pipelines covering a total of 982 km (610 miles) across the United Arab Emirates. Snam acquired an indirect stake of nearly 6% in the company in 2020, along with other consortium partners, including international funds GIP, GIC, Brookfield Asset Management, Ontario Teachers' Pension Plan Board and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited. Snam did not provide any figure for the financial value of the transaction. According to a source, the finalisation of the deal will result in a capital gain for Snam. (Reporting by Francesca Landini, editing by Cristina Carlevaro and Tomasz Janowski)
Zawya
28-01-2025
- Business
- Zawya
Lunate to acquire a minority stake in ADNOC Gas Pipelines from Snam
Snam's sale of the minority stake is in line with its strategic direction to focus on the development of energy transition infrastructure along key European energy corridors Abu Dhabi, Milan: Lunate, an Abu Dhabi based global alternative investment manager with USD 105 billion in assets under management, announced it is to acquire a minority stake in ADNOC Gas Pipelines that is indirectly held by Snam, Europe's leading gas infrastructure operator. The transaction, which is subject to the signing of the sale and purchase agreement, as well as to the potential exercise of the relevant shareholders' rights, will be made through Lunate's Long-Term Capital Fund I that aims to provide investors with attractive cash yields and long-term capital appreciation. ADNOC Gas Pipelines, a subsidiary of ADNOC, has lease rights to 38 pipelines covering a total of 982 kilometers across the United Arab Emirates (UAE). The gas pipeline network serves as a strategic link connecting ADNOC's upstream assets to local UAE off-takers. It represents a high-quality and essential asset that generates stable and predictable cash flows in a critical sector and is a major contributor to the UAE's energy infrastructure strategy. Snam acquired its stake in ADNOC Gas Pipelines in 2020, along with other consortium partners, including GIP, GIC, Brookfield Asset Management, Ontario Teachers' Pension Plan Board and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited. Over this period, Snam has leveraged its industrial skills, know-how and innovative solutions in natural gas management to bring value to the asset and the UAE's wider energy system. Commenting on the transaction, Stefano Venier, Chief Executive Officer, Snam said, 'The sale of the stake in ADNOC Gas Pipelines is consistent with the recently presented strategic plan, which focuses on the development of a pan-European multi-molecule 2025-2029 infrastructure. In this perspective, the rotation of some assets not located along the key European energy corridors where we operate in, allows us to capitalize their value." Murtaza Hussain, Managing Partner, at Lunate said, 'ADNOC Gas Pipelines is a key asset within the UAE's energy infrastructure system. We are pleased to strengthen our partnership with ADNOC through this investment and deliver on Lunate's mandate to offer investors access to high quality assets.' -Ends- About Lunate Lunate Capital Limited (regulated by the ADGM FSRA) is a subsidiary of Lunate Holding RSC Limited. Lunate is an Abu Dhabi-based, Partner-led, independent global alternative investment manager with over 200 employees and US$105 billion of assets under management. Lunate invests across the entire private markets spectrum, including buyouts, growth equity, early and late-stage venture capital, private credit, real assets, and public equities and public credit. Lunate aims to be one of the world's leading private markets solutions providers through SMAs and multi-asset class funds, seeking to generate best-in-class risk-adjusted returns for its clients. For any media inquiries, please contact media@ To learn more, please visit About Snam Snam is Europe's leading operator in natural gas transport, with a network of approximately 38,000 km in Italy and abroad. Snam also operates gas storage, of which it holds about 20% of the European capacity, and regasification plants. Snam ranks among Italy's largest listed companies by market capitalization. With its 80 years of experience in the construction and management of energy infrastructure, Snam ensures security of supply and promotes the energy transition through investments in green gases (biomethane and hydrogen), energy efficiency and CCS (carbon capture and storage) technology. Learn more:
