By Giovanni Legorano
MILAN--Libyan Investment Authority President Mohsen Derregia
said he will meet UniCredit SpA (UCG.MI) top management Wednesday
to discuss the sovereign wealth fund's stake in the Italian
bank.
"We will discuss arrangements for our representation in the
board and financing investments in Italy and other countries where
UniCredit is present," Mr. Derregia told reporters.
He said LIA holds a 1.8% stake in UniCredit, while the bank's
other Libyan shareholder, the Libyan Central Bank, has a stake of
about 3.6%.
Other investments in Italian companies include stakes in Eni SpA
(E), Fiat SpA (F.MI), Finmeccanica SpA (FNC.MI) and Juventus
Football Club SpA (JUVE.MI), but have all been frozen by Italian
courts. The value of these assets, which were seized in March as
requested by the Hague International Criminal Court to indemnify
the victims of the regime of former dictator Moammar Gadhafi, is
about $1.1 billion.
Mr. Derregia said he met Tuesday the Committee on Financial
Security of the Italian Treasury to discuss the efforts to revoke
the seizure of the assets.
"We hope to put this unfortunate misunderstanding behind us very
soon," he said, referring to LIA's position that its assets are
separate to the ones owned by Gadhafi's family.
Write to Giovanni Legorano at giovanni.legorano@dowjones.com