Financial And Banking News

INVESTMENT ACTIVITIES

Sale of Fiat Stake Boosts Libyan Reserves 

The Libyan Arab Foreign Investment Company (Lafico) last week concluded a deal to sell its 15.19% stake in Fiat of Italy, after months of rumors and denials that such a sale was contemplated. Lafico acquired the stake in 1977 at a time when Italy's largest private sector industrial group was going through a severe crisis. The sale comes after three years of record earnings, and will net...