Lunate to Acquire Stake in ADNOC Gas Pipelines

SEATTLE (Oil Monster): The European operator Snam's minority share in ADNOC Gas Pipelines is set to be acquired by Lunate, an alternative investment management based in Abu Dhabi, United Arab Emirates. A sale and purchase agreement must be signed in order for the transaction to proceed.

Investors should anticipate long-term capital appreciation and strong cash yields from the deal, which will be funded by Lunate's Long-Term Capital Fund I. It should be mentioned that in 2020, Snam first purchased a share in ADNOC Gas Pipelines. It has significantly increased the pipeline assets' worth in the ensuing years, bolstering the UAE's energy infrastructure.

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Stefano Venier, CEO of Snam, commented on the deal, stating that the sale of the company's ADNOC Gas Pipelines interest is consistent with the recently announced strategic plan. The proposal suggests rotating some assets that aren't situated along the main energy corridors in Europe, which is where its operations are concentrated.

Lunate's managing partner, Murtaza Hussain, said the company is happy to fortify its relationship with ADNOC with the investment. The action is in line with Lunate's dedication to provide its investors access to top-notch assets.