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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Libyan rescue of French refinery not ruled out

Posted on 28 November 2012

Libya is still in the race to save France’s Petit-Couronne refinery from liquidation, trade unions said late on Tuesday, as the embattled workers press the French government to help bidders or requisition the plant.
France’s Industry Minister said earlier this month he had received a non-binding letter of interest from Libya’s sovereign wealth fund to buy the refinery of insolvent Swiss refiner Petroplus. But French media said this week the Libyan Investment Authority had withdrawn its bid to take over the refinery, the oldest in France, citing a report from Libya’s LANA news agency………………………………………..Full Article: Source

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