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World Business Briefing: Libya: Equity Firm Buys Stake In Oil Refiner


The private equity firm Colony Capital agreed to acquire control of Tamoil of Libya for 4 billion euros ($5.4 billion). The Libyan government will retain 35 percent of the company, which operates refineries and gas stations, Colony said. Tamoil, based in Switzerland and owned by the Libyan government under the name Oilinvest B.V., owns three refineries — in Germany, Italy and Switzerland — and 2,500 gas stations in Italy.

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