Deals
Abu Dhabi Said to Explore Asset Sales After Slump in Oil Price
- Government-owned companies hiring banks to review options
- U.A.E. was first Gulf country to cut fuel subsidies in August
The Bearish Fundamentals Behind Oil's Recent Rise
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Abu Dhabi is reviewing its largest state-owned companies as the slump in crude oil pressures the emirate’s finances, four people with knowledge of the matter said.
Abu Dhabi National Energy Co. and International Petroleum Investment Co. are in talks with banks on options including strategic partnerships, share sales and asset disposals, the people said, asking not to be identified because talks are private. Mubadala Development Co., an investment fund, is considering further divestments after selling most of the assets in its joint venture with General Electric Co., according to the people.