Eni and Impregilo, Unicredit, Astaldi, Finmeccanica, Fiat, and even Juventus: Italian business deals with GHEDDAFI
I reject this devious Italy, petty trafficker, always nostalgic for its own colonial failure, heavily involved in this massacre of civilians underway, accomplice of the ferocious oppression of a legitimate popular revolt. I reject this accomplice, Italy, debased, asleep
This reading can be enhanced by this musical accompaniment
for which I thank the wisdom of Doriana Goracci
Summary by Reuters
ENI: The major Italian oil company which has various activities in Libya, among which, long-term (take or pay) contracts. (Clause that is included in purchase contracts, under the basis that the purchased is obligated in all cases to pay, entirely or partially, the price of a minimum quantity of raw materials indicated within the contract, even in the possibility that this material is not withdrawn). The six-legged dog illustrates an investment plan running up to 25 billion dollars in the country. Tripoli had also indicated its intention of purchasing shares in the company.
IMPREGILO, ASTALDI: Impregilo,the leading construction company in Italy, would greatly benefit from the friendly relationship between Berlusconi and Gheddafi, in that they have been pre-qualified for the realisation of a super-highway project in Libya financed by the Italian government of a 5 billion Euros value. The second largest construction company in Italy, Astaldi, has also expressed interest in participating in the project. Impregilo has also been cited as a possible investment target by Libya.
FINMECCANICA: The Italian aerospace company in 2009 signed an agreement with Libya for the cooperation in the aerospace sector and in other projects in the Middle East and Africa. The agreement entails the creation of a 50-50 joint venture in which the partners are Finmeccanica and Libya Africa Investment Portfolio. Finmeccanica has also had various contracts with Libya, one of several, last year, for the construction of railways having a value of 247 million Euros. Not to be ignored is the fact that the Libyan Investment Autority holds 2.01% of the shares in Finmeccanica.
UNICREDIT. The Libyan holdings in the banking group are 7.5%, after the acquisition by the Libyan Investment Authority (LIA) of 2.59% of the capital. The Central Bank of Libya is another shareholder in Unicredit, with shares for 4.988% of the capital.
FIAT. Libya came to the rescue of Fiat in 1977, upon the invitation of Giovanni Agnelli, with the acquisition of approximately 15% of the shares by the Lybian Arab Foreign Investment Company (Lafico). The investment gave rise to a strong wave of criticism. Fafico thus sold its shares in 1986, but in 2002 repurchased shares exceeding 2%. At the moment its shares amount to less than 2%.
Libya, lastly, is active in football as well. Lafico in fact holds no less than 7.5% of the capital of Juventus. Al-Saadi Gheddafi, the Colonel’s son, once a player in the Perugia and Udinese teams, is also a member of the Board of Directors of Juventus. Libya at a certain point also thought of investing in Lazio and had invested in Triestina.
Lafico is also active in the textiles sector, holding shares worth 21.7% in Olcese, according to what is written in the company’s Internet site.