Kuwait signs $16-bn pipeline deal with Blackstone, KKR: Report

Kuwait has agreed a $16 billion oil pipeline infrastructure deal with Blackstone, Brookfield Asset Management and KKR, according to Bloomberg. The three firms will each acquire an equal share of a 49% stake in a joint venture leasing the pipeline assets of a Kuwait Petroleum Corp subsidiary. The transaction is expected to generate $7.85 billion in upfront proceeds for Kuwait.