Aramco selects Citigroup for oil storage terminals stake sale

Saudi Aramco has selected Citigroup to advise on the planned sale of a stake in its oil export and storage terminals business, reported Bloomberg, citing people familiar with the matter. The appointment follows a competitive process involving several major investment banks, with Citigroup emerging as the preferred adviser in recent days. Previously, the company mandated JPMorgan Chase as a sell-side adviser for separate sales of stakes in its oil and gas pipeline infrastructure. The proposed transaction ...