DUBA: Abu Dhabi state investor Mubadala said on Tuesday it has joined a consortium led by US-based EIG Global Energy Partners that had agreed to buy a 49 percent 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 percent of the newly formed Aramco Oil Pipelines Co. which has the rights to 25 years of tariff payments for oil carried on Aramco’s pipelines.
Mubadala in statement to Reuters did not disclose how much it would invest in the deal.
Sources had told Reuters earlier that EIG was in talks to sell part of the equity portion to buyers including Mubadala, Chinese investors, pension funds in Saudi Arabia and the UAE, as well as a small piece to US pension funds, the source added.
The deal is backed by staple financing of $10.5 billion provided by international and regional banks.
Abu Dhabi’s Mubadala joins EIG-led consortium buying Aramco pipeline stake
Abu Dhabi’s Mubadala joins EIG-led consortium buying Aramco pipeline stake
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
