| 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. Abu Dhabi, in addition to the three state-owned companies, could also tap sovereign wealth fund the Abu Dhabi Investment Authority to help support its finances. ADIA ranks second behind Norway as the largest in the world at $773 billion, according to the Sovereign Wealth Fund institute...............................................Full Article: Source
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