The firm will receive a 22 per cent stake in the pipeline from Canadian oil firm Talisman Energy, France’s Total SA and Madrid-based Cepsa according to the Wall Street Journal, which cited people familiar with the matter.
It said the deal, which was managed by JPMorgan Chase and Credit Suisse, was expected to be announced next week when it is approved by the Ocensa board.
Last month Advent exited its investment in chemical company Oxea to state-owned Oman Oil Company (OOC) for an undisclosed sum.
With 1.3 million tonnes of Oxo chemicals and derivatives each year, Oxea generated sales of around €1.5bn in 2012.
The company was formed by merging two separate business units which Advent acquired in 2007 from Celanese and Degussa, now called Evonik.
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