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Stock impact report

UAE flips own script with $4 bln oil pipeline deal [Reuters]

Chimera Investment Corporation (CIM) 
Last chimera investment corporation earnings: 2/12 07:00 am Check Earnings Report
US:NYSE Investor Relations: chimerareit.com/investors
Company Research Source: Reuters
LONDON, April 5 (Reuters Breakingviews) - Abu Dhabi is flipping the script. In recent years, the United Arab Emirates' leading light has blazed a trail by offloading minority stakes in subsidiaries of the Abu Dhabi National Oil Company (ADNOC). Wednesday's acquisition , opens new tab of KKR (KKR.N) , opens new tab and BlackRock's (BLK.N) , opens new tab 40% stake in ADNOC's oil pipelines, by domestic investment fund Lunate, goes in the opposite direction. ADNOC's original template made a lot of sense. National oil company rival Saudi Aramco's (2222.SE) , opens new tab initial public offering of its whole business in 2019 created major disclosure requirements and intense wrangling over the final group valuation. ADNOC's strategy of selling minority stakes in subsections like oil and gas pipelines avoided all that, but still raised billions of dollars of cash and burnished the UAE's credentials as a destination for foreign capital. KKR and BlackRock's 2019 original purchase , opens Show less Read more
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