Lunate’s long-term capital fund will back this move, offering investors strong cash yields and long-term growth potential.

Italy's gas grid operator Snam will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said on Tuesday. The deal is in line with the Italian group's long-term strategy to strengthen its role in Europe and reduce exposure to assets not located along Europe's major energy corridors.

It is worth noting that Snam acquired its stake in ADNOC Gas Pipelines in 2020, along with other consortium partners, including GIP, GIC, Brookfield Asset Management, Ontario Teachers’ Pension Plan Board and NH Investment & Securities, through Galaxy Pipeline Assets HoldCo Limited.

Lunate, an Abu Dhabi-based global alternative investment manager with $105 billion in assets under management, announced it is to acquire a minority stake in ADNOC Gas Pipelines. Lunate will acquire the equity stake in the ADNOC Gas Pipelines that is indirectly held by Snam, Europe’s leading gas infrastructure operator.

BAKU, Azerbaijan, January 28. Abu Dhabi-based investment firm Lunate, with $105 billion in assets under management, has announced its intention to acquire a minority stake in ADNOC Gas Pipelines, Trend reports.

Lunate, the alternative investment manager based in Abu Dhabi, is buying a minority stake in Adnoc Gas Pipelines. AGP is a subsidiary of Abu Dhabi National Oil Company (Adnoc) and has lease rights to 38 pipelines covering a total of 982km across the UAE.