VOL. XLI

No. 06

9-February-1998

LEBANON

Saudi Company Acquires Controlling Stake In Lebanese Oil Product DistributionCompany

Saudi Arabia's Traco has acquired 70% of the shares of Lebanon's Wardieh Holdings,which imports and distributes petroleum products locally. Prior to the acquisition WardiehHoldings was owned 70% by Mr. Walid Junblatt, the Lebanese Minister for Displaced Persons,and by Mr. Abu Hamza and 15% each by Mobil Oil of the US and by an affiliate of BanqueAudi of Lebanon. The...