Lunate to Acquire Minority Stake in ADNOC Gas Pipelines from Snam
Deal News | Jan 28, 2025 | Zawya
Lunate, a prominent Abu Dhabi-based global alternative investment manager, is set to acquire a minority stake in ADNOC Gas Pipelines from Snam. ADNOC Gas Pipelines is a crucial component of the UAE's gas infrastructure, possessing lease rights for 38 pipelines over a span of 982 kilometers. This acquisition aligns with Lunate's strategy to offer investors access to high-quality assets that generate steady returns. The transaction underscores Snam's strategic pivot towards energy transition infrastructure across Europe, deviating from assets outside its core European focus. Lunate, managing $105 billion in assets, sees this stake as a means to strengthen ties with ADNOC and support its infrastructure strategy. With this transaction, Snam aims to realign its portfolio with its recently announced strategic plan focusing on multi-molecule infrastructure development from 2025 to 2029. The completion of the transaction awaits the agreement's formalization and potential shareholder rights exercise.
Sectors
- Energy Infrastructure
- Private Equity
Geography
- United Arab Emirates – The location of ADNOC Gas Pipelines and the primary geography of the investment transaction.
- Europe – Relevant due to Snam's strategic focus on European energy corridors post-divestment.
Industry
- Energy Infrastructure – The article is primarily focused on a transaction involving gas pipelines, essential components of energy infrastructure.
- Private Equity – Lunate, as a global alternative investment manager, participates in this sector with its private market investments.
Financials
- USD 105 billion – Assets under management by Lunate.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lunate | Buyer | Company | An Abu Dhabi-based global alternative investment manager with assets under management totalling USD 105 billion. |
| ADNOC Gas Pipelines | Target | Company | A subsidiary of ADNOC with key pipeline assets in the UAE. |
| Snam | Seller | Company | Europe's leading gas infrastructure operator divesting its stake in ADNOC Gas Pipelines. |
| ADNOC | Other Company | Company | A major state-owned energy company in the UAE, parent company of ADNOC Gas Pipelines. |
| Galaxy Pipeline Assets HoldCo Limited | Consortium | Company | Held the stake in ADNOC Gas Pipelines acquired by Snam and partners in 2020. |