Saturday 10 December 2016

Libyan stake in Circle Oil tumbles

Published 27/02/2011 | 05:00

Colonel Muammar Gaddafi's state investment firm Libyan Oil Holdings has seen its stake in the €250m-valued Irish resources firm Circle Oil tumble by almost 10 per cent as revolution unfolds in the African state.

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Libyan Oil Holdings is the largest shareholder in Circle Oil, which is chaired by Tom Anderson. It was set up the the late David Hough. Libya holds a near 18 per cent stake in the London-listed firm, which is worth €44m.

The state oil investment company spent close to €23m buying a stake in Circle almost three years ago. Icelandic bank Kaupthing also invested in the firm.

Sunday Indo Business

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