Occidental Talks for Middle East Unit Stake Sale Said to Falter - Bloomberg:
"Occidental Petroleum Corp. (OXY)’s effort to raise as much as $8 billion by selling a stake in its Middle Eastern business has ended without a deal, people with knowledge of the matter said, and the company is now seeking to shop smaller pieces.
Occidental had been trying to sell 40 percent of the operations to a group comprising the governments of Oman, Abu Dhabi and Qatar, people have said, to raise cash for drilling and share buybacks.
The company now plans to sell some assets piecemeal, which will likely yield smaller proceeds than originally envisioned, two of the people said, asking not to be identified as the information is private. Occidental may fetch as much as $1 billion for smaller, partial sales, one of the people said."
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