|Bid||29.91 x 3200|
|Ask||29.92 x 3200|
|Day's range||29.83 - 30.20|
|52-week range||17.95 - 31.59|
|Beta (5Y monthly)||0.59|
|PE ratio (TTM)||31.47|
|Forward dividend & yield||0.75 (2.51%)|
|Ex-dividend date||11 Mar 2021|
|1y target est||31.61|
(Bloomberg) -- An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco’s oil pipelines, in a deal set to be backed by a loan of around $10.5 billion.Mubadala Investment Co., a fund with $232 billion of assets, is in talks with U.S. investor EIG Global Energy Partners LLC, the lead member of the consortium, according to a Mubadala spokesperson. A final agreement has yet to be reached, the spokesperson said.Aramco has helped put together the loan, which the group will use to fund the transaction, according to people familiar with the matter. BNP Paribas SA, Citigroup Inc., HSBC Holdings Plc and Mizuho Financial Group Inc are among the lenders, according to the people. All four banks declined to comment.Washington-based EIG and Aramco, the world’s largest oil company, announced the $12.4 billion deal late Friday. The investors will buy 49% of Aramco Oil Pipelines Co., a recently-formed entity with rights to 25 years of tariff payments for crude shipped through the Saudi Arabian firm’s network. Aramco will own the rest of the shares and retain full ownership of the pipelines themselves.The transaction is part of Saudi Arabia’s drive to open up more to foreign investment and use the money to diversify its economy, which was hammered last year by coronavirus lockdowns and the fall in oil prices.The disposal may also help Aramco reduce its debt and maintain its dividend, the biggest of any listed firm globally. The company -- 98% owned by the Saudi government -- paid out $75 billion to shareholders last year.The deal is structured similarly to one last year involving Abu Dhabi National Oil Co. In June, Adnoc raised $10.1 billion by selling leasing rights in its natural-gas pipelines to a group including Global Infrastructure Partners and Singapore’s sovereign wealth fund, GIC Pte.East-West PipelineHSBC advised EIG on the Aramco acquisition, one of the largest this year in the energy sector. Apollo Global Management Inc., Brookfield Asset Management Inc. and BlackRock Inc. were among the other investors that made or considered bids.Mubadala is the second-biggest wealth fund in the United Arab Emirates, of which Abu Dhabi is the capital.The transaction covers all of Aramco’s existing and future pipelines in the kingdom, according to EIG. The company’s vast network includes the East-West Pipeline, which can carry more than 5 million barrels of crude a day from Saudi Arabia’s main fields in the east to Yanbu on the Red Sea.EIG described it as a “lease and lease-back agreement.” Aramco will lease usage rights for its pipelines to the new subsidiary, which will then give Aramco the exclusive right to use the network for the 25-year period in exchange for a quarterly, volume-based tariff. Aramco will retain all operating and capital expense risk, EIG said.(Updates with BNP Paribas declining to comment.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Didi Chuxing is raising $1.5 billion of debt financing from banks as the Chinese ride-hailing giant seeks to expand its firepower ahead of a potential U.S. initial public offering, according to people familiar with the matter.Didi, backed by SoftBank Group Corp., has signed a revolving loan facility with JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group Inc., HSBC Holdings Plc, Barclays Plc and Citigroup Inc., the people said. A debt deal would serve as a stepping stone as Didi continues to evaluate a potential listing that could value the firm at about $100 billion, the people said, asking not to be identified because the matter is private.Representatives for Beijing-based Didi and the banks declined to comment.After raising a loan, Didi would follow the footsteps of other sharing economy companies in seeking a listing. In February, Southeast Asia’s ride-hailing giant Grab Holdings Inc. closed its first senior secured term loan facility, which was upsized to $2 billion from $750 million planned initially due to strong investor interest. Grab is in advanced talks to go public through Altimeter Capital’s first blank-check company, people familiar with the matter have said.Didi is stepping up efforts to grow its presence in strategically important sectors like autonomous driving as it prepares to go public in what could be one of the largest tech IPOs globally this year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Property values were 6.5% higher last month, or £15,430 in cash terms, according to latest data.