Slaughter and May is advising BlackRock on its purchase of an equity stake in Saudi Bahrain Pipeline Company from Bapco Energies

Slaughter and May is advising BlackRock’s Diversified Infrastructure group on its purchase of a minority equity stake in Saudi Bahrain Pipeline Company (“SBPC”) from Bapco Energies.

SBPC owns a portion of the 112-km pipeline supplying crude oil from Saudi Aramco to Bapco Refining, the national refinery of Bahrain and a subsidiary of Bapco Energies. Under the terms of the transaction, the BlackRock infrastructure fund has taken a minority stake in SBPC, while Bapco Energies retained majority ownership and governance over the company. The proceeds from this transaction will be used for Bapco Energies capital. Bapco Energies is supporting the Kingdom of Bahrain to achieve net-zero carbon emissions by 2060, with a commitment to investing in decarbonization projects across government-owned energy and utility businesses. This transaction represents Bapco Energies’ first asset monetization and reflects BlackRock’s commitment to investing in the Kingdom of Bahrain.