BP Boss in Mideast Talks With Sovereign Wealth Fund

BP (BP) Chief Executive Tony Hayward has met with representatives of the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, a UAE official source said on Wednesday. The speculation evolves on the possibility of a stake purchase by a Middle East or Asian sovereign wealth fund such as ADIA to help BP ward off takeovers and pay the rising costs of the worst oil spill in U.S. history.

One report said Saudi investors were looking to buy 10 to 15 percent. – Reuters

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