29.10.2012 - So what happened to the billions in oil money that gushed out of Libya?
With the Muslim festival of Eid al-Adha this week, most businesses in Libya, along with much of North Africa, are taking a few days off to celebrate the public holiday. But at the Libyan Investment Authority (LIA), the sovereign wealth fund set up under Colonel Gaddafi, it has been quiet like this since before the war that killed him and his four-decade regime a year ago. Essentially, hundreds of companies’ dealings with the fund are now in something of a state of flux. Take Pearson, the Financial Times owner where the LIA built up a 3.27 per cent stake. There, the fund’s shares have remained frozen – unable to be traded – for 19 months now..............................................Full Article: Source
Print