Abu Dhabi's Mubadala mulls buying BP assets

Mubadala Development Co, an Abu Dhabi government-backed investor with stakes in Carlyle Group and Ferrari, may buy assets from BP after the company lost half its value following the worst oil spill in US history, according to a Bloomberg report.

Mubadala is looking at BP’s assets, a company spokesman said in an e-mail on Thursday. He declined to be more specific and declined to be identified, citing company policy.

Established and owned by the Government of Abu Dhabi, Mubadala’s strategy is built on the management of long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the emirate, according to its website.

"Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments.  It partners with leading global organizations to operate businesses across a wide range of industry sectors including aerospace, energy and industry, healthcare, information communications and technology, infrastructure and real estate. By doing so, Mubadala accomplishes its mission to expand the economic base of the Emirate and contribute to the growth and diversification of its economy."