Middle East Economic Survey

VOL. LII

No 51-52

21/28-Dec-2009

LIBYA

Shareholders, Court Approve LIA Buyout Of Verenex

Verenex Energy shareholders have overwhelmingly approved the $350mn sale of the Canadian exploration firm to a subsidiary of the Libyan Investment Authority (LIA). The firm agreed to the offer last month (MEES, 16 November), and 99.95% of stock holders approved the sales of all issued and outstanding shares in the firm to Libyas sovereign wealth fund (SWF), during a meeting on 11...