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Message: Magrebh Confidential

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.


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