Tag Archives | Libyan Investment Authority

Libya Will Not Buy Petroplus Refinery

Speaking to France Inter radio today, French Foreign Minister Laurent Fabius said that Libya’s sovereign investment fund, the Libyan Investment Authority (LIA), will not invest in the Petroplus refinery at Petit-Couronne in Normandy: “Unfortunately, it wasn’t finalized ... It’s too bad, because the idea that a country like Libya that produces a lot of crude could […]

Libyan Fund Seeks New Investments

The Wall Street Journal reports that Libya's sovereign wealth fund, the Libyan Investment Authority (LIA), is actively looking for new investments in bonds and property. The fund's chairman, Mohsen Derregia, told Dow Jones that it plans to radically change the asset allocation of its $60 billion portfolio after several years of lackluster returns and allegations […]

France Releases $2bn Frozen Libyan Assets

As it looks to secure investment from Libya, France says it is ready to start releasing almost $2 billion in frozen assets belonging to the Libyan Investment Authority (LIA), Libya's sovereign wealth fund. Speaking to Libya's General National Congress (GNC), France's Foreign Minister Laurent Fabius said: "France is committed through me to immediately begin unfreezing the […]

France to Invest in Petroplus with Libya?

Reuters reports that France is considering investing along with the Libyan Investment Authority (LIA), Libya's sovereign wealth fund, in the Petroplus plant at Petit Couronne, in Normandy. Industry minister Arnaud Montebourg, keen to secure a rescue of the oldest refinery in France, visited Libya on Monday along with French foreign minister Laurent Fabius. Montebourg, who […]

Libyan Stakes in UniCredit, Finmeccanica Unfrozen

The Court of Appeal in Rome has ordered the release from judicial seizure of the Libyan Investment Authority's equity stakes in Italian bank UniCredit and Italian air defence group Finmeccanica. The decision follows the release in July of LIA's stake in oil company Eni; according to Dow Jones, the ruling means all LIA's investments in […]

Libyan Fund to Buy French Refinery?

Libya's sovereign wealth fund, the Libyan Investment Authority (LIA), is reported to be interested in taking over the Petroplus oil refinery in northwestern France, which is currently in bankruptcy proceedings. France's Industry Minister Arnaud Montebourg told RTL Radio that he had received a letter from the fund saying they would like to examine the possibility […]

LIA Claws Back Sovereign Assets

Libya Herald reports that, almost one year after the fall of Tripoli, the Libyan Investment Authority (LIA), Libya's sovereign-wealth fund, is still working to recover assets frozen during the revolution. The LIA is now also said to be investigating losses that have come to light, including $1.95bn related to investments made with Goldman Sachs and […]