Arabian Business reported:
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.BP and The Carlyle Group are symbols of greed. One man is connected to both firms, James A. Baker, III. His law firm has offices in the United Arab Emirates. Is Baker Botts advising on any BP asset sale to Mubadala? Will Carlyle's UAE owners or their Libyan friends win out?
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.
If one throws a rock and it hits a pile of money, James Baker is likely nearby. If it's a bomb and it's falling on an oil rich Middle Eastern country, rest assured Baker has a role.