Tag Archives | UniCredit

Italian Firms gather for Italo-Libyan Economic Forum

By John Lee. Presidency Council deputy Ahmed Maiteeg [Maiteeq] and Italian foreign minister Angelino Alfano have headed up the first Italo-Libyan Economic Forum, held at the weekend in the Sicilian town of Agrigento. The Forum included discussion on the prospects the Libyan market can offer to Italian companies once security conditions are re-established, as well […]

LIA Cooperates With SEC on Goldman Probe

The Libyan Investment Authority (LIA), the country's sovereign-wealth fund, is reportedly helping the US's Securities and Exchange Commission’s bribery probe into Goldman Sachs. According to The Wall Street Journal, the fund is cooperating with the SEC on an investigation into whether Goldman violated American anti-corruption laws, after the fund lost 98 percent, or $1 billion, […]

CBL Reduces Stake in UniCredit

Reuters reports that the Central Bank of Libya's stake in Italy's UniCredit has fallen from 4.613 percent to 2.913 percent. The Libyan stake in Unicredit dropped below five percent after the bank’s capital increase in January 2012. Previously Libya was Unicredit’s largest shareholder; the Libyan central bank held 4.98 per cent and total Libyan presence amounted […]

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 […]

Libya seeks board representation at Italy's Unicredit

The Libyan stake in Italian bank Unicredit dropped below five per cent after the bank’s capital increase in January. Previously Libya was Unicredit’s largest shareholder; the Libyan central bank held 4.98 per cent and total Libyan presence amounted to 7.6 per cent taking into account shares held by the Libyan Investment Authority (LIA). Both the […]

Abu Dhabi fund to take 2 seats on UniCredit board

Abu Dhabi investment vehicle Aabar, UniCredit's biggest single shareholder, will have two seats in the Italian bank's new, slimmed-down board, according to a list of board nominees presented on Monday. The new board will have 19 members, down from 23. Aabar, which has a 6.5 percent stake in UniCredit, said its chairman, Kadem Abdulla al-Qubaisi, […]