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Investing.com -- Saudi Aramco is exploring plans to sell various assets to raise billions of dollars in what could become its most significant disposals ever, according to a report from Bloomberg, citing people familiar with the matter.
The oil giant is considering selling a stake in its oil export and storage terminals as part of these plans. Banks have been invited to pitch for roles on feasibility studies for the potential disposals, which could generate more than $10 billion.
Aramco is examining several options, including raising fresh equity from the deals. The company might also pursue a structure similar to its recent $11 billion lease transaction with a group led by BlackRock Inc.’s Global Infrastructure Partners for assets linked to the Jafurah gas project.
The earlier Jafurah deal attracted interest from firms worldwide, prompting bankers to propose several asset disposal plans due to increasing investor demand. Aramco’s terminals business is viewed as a particularly lucrative asset.
The company could begin a formal sales process as early as the beginning of next year.
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