Middle East Economic Survey
VOL. LIII
No 1
4-Jan-2010
LIBYA
LIA Acquisition Of Verenex Completed
The Libyan Investment Authority (LIA) has completed its acquisition of Canadian exploration firm Verenex Energy, it was announced on 21 December. The Libyan sovereign wealth fund (SWF) acquired through its subsidiary all of the firms issued and outstanding shares for $350mn plus $9.76mn in working capital at $7.09/share, on par with LIAs initial offer. The firm agreed to the offer in November, with...
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