ADNOC Considers Buying UAE Sovereign Fund’s Energy Assets ...Middle East

Abu Dhabi National Oil Company (ADNOC) has launched talks to potentially buy the energy assets of the UAE’s sovereign wealth fund in a deal that could be worth about $10 billion, sources familiar with the plans told Bloomberg on Friday. ADNOC – which has recently reshuffled shareholdings, listed some subsidiaries, and created an $80-billion investment firm for gas, chemicals, and low-carbon energy – started late last year talks with Mubadala Investment Company, the sovereign wealth fund of the UAE managing a diverse portfolio…

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