Bapco: BlackRock buys minority stake in Saudi-Bahrain pipeline

Bahrain’s Bapco Energy announced that a fund managed by BlackRock (the world’s largest asset manager) has acquired a minority stake in a pipeline linking Saudi Arabia and Bahrain.

The two companies explained in a joint statement that a fund managed by BlackRock’s Diversified Infrastructure bought the stake in the Saudi-Bahrain Pipeline Company, according to CNBC.

The value of the deal, which represents the first liquidation of assets owned by Bapco Energy, was not disclosed. Bahrain has implemented reforms to facilitate doing business, create more jobs, and attract foreign investment to boost economic growth.

“As part of our efforts to maximize value across our investment portfolio, we are implementing a package of projects and initiatives that contribute to supporting the comprehensive national development process by attracting more strategic foreign investments, which supports our economic resilience and enhances innovation and sustainability in the energy sector,” Mark Thomas, CEO of Bapco Energy, said in the statement.