Lunate, an Abu Dhabi-based global alternative investment manager with $105 billion in assets under management, announced it is to acquire a minority stake in ADNOC Gas Pipelines. Lunate will acquire the equity stake in the ADNOC Gas Pipelines that is indirectly held by Snam, Europe’s leading gas infrastructure operator.

Italy's gas grid operator Snam will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said on Tuesday. The deal is in line with the Italian group's long-term strategy to strengthen its role in Europe and reduce exposure to assets not located along Europe's major energy corridors.

Dubai: The Abu Dhabi based investment firm Lunate has bought a minority stake in ADNOC Gas Pipelines. This equity was earlier held – indirectly – by Snam, the European gas infrastructure operator. The deal will be made through Lunate’s Long-Term Capital Fund I,