Abu Dhabi National Oil Company (ADNOC) on Wednesday said it has signed a deal with Apollo Global Management and a group of institutional investors for an underlying real estate portfolio valued at $5.5 billion. This strategic partnership allows ADNOC to unlock and monetize significant value from its non-oil and gas strategic infrastructure assets and reinvest into our core business to deliver further growth and realize greater returns.
Apollo led consortium of institutional investors took a 49 percent stake in Abu Dhabi Property Leasing Holding Company RSC Limited, a wholly owned affiliate of ADNOC. ADNOC will retain its 51 percent majority stake, maintaining full ownership and control over the select real estate and social infrastructure assets and responsibility for all operations and maintenance.