A year ago, Abu Dhabi launched a high-profile energy investment firmhoping to deploy billions of dollars on deals around the world. While there were early successes in the US and Africa, XRG’s biggest effort yet fell apart this week and another deal hangs in the balance, underscoring its hurdles to becoming a global energy behemoth.
The firm dropped its planned $19 billion takeover of Australian natural gas producer Santos Ltd. on Wednesday, abandoning a monthslong effort. XRG has also said its planned takeover of German chemical maker Covestro AG, which took more than a year to negotiate, risks being ...
