Re: Magrebh Confidential
in response to
by
posted on
May 27, 2009 03:25PM
Engineering, procurement, construction & management of crude oil refineries.
I managed to convert the PDF - here is the article.
Goldie
What to Do with So Much Cash?
Libya will find itself depicted as a "petrodollar
haven in times of crisis" in Paris on
June 15 when an exceptional seminar is to
be organized at 77 Boulevard St. Jacques
by Ubifrance and the French trade mission
in Tripoli. The theme? How to work
with Libyan investment funds. The funds
in question are overseen by the powerful
Libyan Investment Authority (LIA)
which has a treasure chest of no less than
USD 75 billion at its disposal. Its chief executive,
Mohamed Layas, will attend the
meeting, which is to unfold exclusively in
English. He will be flanked by the bosses
of: the Economic and Social Development
Fund (ESDF), Ahmed AI Houderi;
the Libyan African Investment Portfolio
(LAIP or LAP), Bechir Saleh Bechir, former
chief-of-staff to Muammer Kadhafi; the
Libyan African Investment Co. (LAICO,
operational arm of LAP), Mohamed Laajili;
and the Libyan Foreign Investment
Co (Lafico, Ibrahim Zlitni. The ESDF is
the special partner of firms operating in
Libya, such as Veolia, Suez and Daewoo.
Officials from BNP Paribas and Vinci, also
present in Libya, are to address the seminar.
The LIA is gaining in influence abroad
by investing directly in such financial
establishments as UniCredit, Fortis and
Kaupthing in Iceland, and in the Italian
oil giant ENI. It could also shortly buy into
ENEL. In France, the Libyan Investment
Authority's Long Term Investment Portfolio
run by Khaled Zentuti has invested USD
4 billion in acquiring shares of blue chip
companies like Alstom, EDF, GDF, Total,
France Telecom and Societe Generale.
The fund also owns a building housing the
high tech and cultural goods retail chain
FNAC Wagram near the prestigious Place
de l'Etoile in Paris.