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Ex-BP Browne May Buy Into Fairfield, Sunday Times Says

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(Corrects John Browne’s role at Riverstone in first paragraph.)

Feb. 26 (Bloomberg) -- A private equity company that includes former BP Plc Chief Executive Officer John Browne among its partners is in advanced talks to buy as much as half of Fairfield Energy Ltd., a U.K.-based oil and gas business, the Sunday Times reported.

Browne heads the European unit of Riverstone Holdings LLC, which may acquire additional North-Sea oil and gas assets if it were to buy a stake in Fairfield Energy, the newspaper reported, without saying where it got its information. Riverstone and Fairfield together would have 30 billion pounds ($48 billion) under management, according to the report. Fairfield is controlled by Warburg Pincus LLC, a private equity fund based in New York.

To contact the reporter on this story: Catherine Airlie in London at cairlie@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net

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