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Market Chatter: Adnoc Reportedly Evaluates List of Banks for Financial Advisory Work

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Abu Dhabi National Oil Co., d/b/a Adnoc, called for pitches from about 10 investment banks for potential financial advisory work, Bloomberg News reported Friday, citing people familiar with the matter.

The roles are currently held by Moelis & Co. and PJT Partners. However, the banks could still retain their positions depending on the evaluation, which is reportedly held periodically by the state-owned oil producer.

Adnoc did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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