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UAE state-owned Abu Dhabi National Oil Corporation (ADNOC) has entered into a definitive agreement with U.S. investment firms KKR and BlackRock. The $4 billion midstream pipeline infrastructure deal is expected to close in 3Q2019. While the consortium of KKR and BlackRock will own 40% stakes in the entity, ADNOC will own the rest. ADNOC will also hold sovereignty over the pipelines and management of operations.