Abu Dhabi said to explore asset sales to offset oil slump

DUBAI: 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 were 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.