Kuwait's KPC signs $16 billion lease and leaseback deal for oil pipeline network
KKR•Broader Gulf funding trend
The KPC deal is part of a broader push by Gulf state oil companies and sovereign investors to raise funds from infrastructure assets and attract foreign capital, as they look to fund domestic investment plans.
It follows pipeline fundraisings by Saudi Arabia's Aramco, Abu Dhabi National Oil Company and Bahrain’s Bapco Energies.
Centerview Partners, HSBC and JP Morgan acted as financial advisors to KPC.
Context and company comments
"This transaction sends a powerful signal that Kuwait continues to rise as an attractive destination for global capital, even amid a challenging regional environment," KPC Deputy Chairman and CEO Shaikh Nawaf Saud Al-Sabah said in the statement.
The process for the stake sale was launched just before joint U.S.-Israeli strikes on Iran on February 28, Reuters previously reported citing sources.
