September 29, 2020
DUBAI (Reuters) – The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it closed its $5.5 billion real estate investment partnership with entities owned and/or advised by Apollo Global Management Inc <APO.N> subsidiaries and a group of institutional investors.
The closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion, the company said in a statement.
The Apollo-led consortium collectively holds a 49% stake in Abu Dhabi Properly Leasing Holding Company RSC Limited (ADPLHC). ADNOC retains a 51% majority stake, according to the statement.
(Reporting by Dahlia Nehme; Editing by Louise Heavens)
