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Abu Dhabi's Mubadala joins EIG-led consortium buying Aramco pipeline stake

DUBAI, June 8 (Reuters) - Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by U.S.-based EIG Global Energy Partners that had agreed to buy a 49% equity stake in Aramco Oil Pipelines Co.

Aramco in April agreed to sell a minority stake in its pipelines for $12.4 billion to a consortium led by EIG, the company’s largest deal since its record $29.4 billion initial public offering in late 2019.

Aramco will keep 51% of the newly formed Aramco Oil Pipelines Co and rights to 25 years of tariff payments for oil carried on Aramco’s pipelines. (Reporting by Saeed Azhar; Editing by Jan Harvey)

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