Bloomberg Business

Royal’s Firm Drags Down Abu Dhabi Index After 42,000% Rally

A group of companies controlled by an influential member of Abu Dhabi’s royal family have shed $30 billion in market value this year, contributing to a drop in the emirate’s benchmark index that’s lagged regional peers.

BlackRock, KKR Near Sale of Adnoc Oil Pipeline Stake to ADQ

BlackRock Inc. and KKR & Co. are nearing a deal to sell their multibillion-dollar stake in Abu Dhabi National Oil Co.’s oil pipeline network to local sovereign wealth fund ADQ, people with knowledge of the matter said.

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