Presenting The Main Holdings Of The Libyan Investment Authority, And Why UniCredit Is Sweating

Tyler Durden's picture

With pervasive shooting across Libya, stoppage of oil production, and overall revolutionary activity, it makes sense to take a look at the biggest holdings of some of the key Libyan investment players. We start with the country's Sovereign Wealth Fund, the Libyan Investment Authority. We find some interesting names...

1. Verenex Energy Inc. 100% owned by the LIA. Verenex Energy, Inc. engages in the acquisition, exploration, and production of oil and gas in Libya, France, and Canada. It carries out its activities in Ghadames basin in Libya, the Bay of Biscay offshore France, and the Bottrel area of Alberta in Canada. The company also explores new opportunities in Algeria, Tunisia, and Egypt. Verenex Energy, Inc. was founded in 2004 and is headquartered in Calgary, Canada.

2. Libyan Cement Manufacturing Joint Venture: 44% owned by the LIA. Libyan Cement manufacturing joint venture company was founded in
2007 and is based in Libya. As of March 30, 2009, Libyan Cement
manufacturing joint venture company operates as a subsidiary of Asamer
& Hufnagl Kies- und Betonwerke GmbH.

3. 11 Upper Brook Street. 9.27% owned by the LIA. 11 Upper Brook Street, London comprises commercial real estate
property which covers office space and tenanted residential property and
is located in London, United Kingdom.

4. Juventus Football Club. 7.50% owned by the LIA. Juventus Football Club S.p.A. operates as a professional football club in Italy. It participates in national and international competitions, as well as organizes matches. Juventus was the nail-biting winner of the 1995-1996 Champions Cup after penalties. The team then boasted such unparallelled names  as Vialli, Ravanelli, Jugovic, Padovano, Paulo Sousa, and of course Del Piero. Juventus has also been home to such legends as Baggio, Zidane, Inzaghi, Davids, Trezeguet, Thuram and Nedved. The good days.

5. Pearson PLC. 3.01% owned by the LIA. A media company whose profitable divisions include DebtWire, Mergermarket, DealReporter, Wealthmonitor, and Pharmawire. Other subsidiaries owned are the Financial Times, and its assorted derivatives.

and most importantly...

6. UniCredit SpA. 2.59% owned by the LIA. The Milan based bank is the largest one in Italy. It is also getting hammered right now. The reason is that in addition to the LIA, the Libya Central Bank also owns 4.05%, and the Libyan Foreign Bank is a proud owner of a 0.56% stake. Altogether Libya owns 7% in Italy's largest bank.

We, for one can't wait to read objective reports on the Libyan situation out of UniCredit (and Pearson of course).