BlackRock Real Assets and Hassana Investment to acquire a 49% stake in Aramco Gas Pipelines of Saudi Aramco for $15.5bn.

BlackRock Real Assets, a private equity firm, and Hassana Investment, an investment management arm of the General Organization for Social Insurance in Saudi Arabia, agreed to acquire a 49% stake in Aramco Gas Pipelines of Saudi Aramco, a Saudi Arabian oil company, for $15.5bn. “BlackRock is pleased to work with Saudi Aramco and Hassana on this landmark transaction for Saudi Arabia’s infrastructure. Aramco and Saudi Arabia are taking meaningful, forward-looking steps to transition the Saudi economy toward renewables, clean hydrogen, and a net zero future. Responsibly-managed natural gas infrastructure has a meaningful role to play in this transition,” Larry Fink, BlackRock Chairman and CEO. On February 23, 2022, China Merchants Capital entered into a consortium agreement with BlackRock and Hassana Investment.