Italy court unfreezes Libya’s Eni stake


An Italian court has unfrozen shares in Italian oil and gas group Eni held by the Libyan Investment Authority (LIA) on behalf of the family of former Libyan leader Muammar Gaddafi, said judicial sources.

The 0.58 percent stake in Eni was seized earlier this year, together with a series of other Italian assets, at the behest of the International Criminal Court.

At the time of the seizure the assets held by LIA were worth an overall 1.3 billion euros, Reuters reports.

The Court is expected to rule in September on unfreezing the remaining assets which include a stake in Italy’s largest bank UniCredit.

LIA and Libya’s central bank cut their combined stake in UniCredit to around 4 percent after a capital increase in January. The central bank’s share is at around 2.9 percent.

Other assets held by LIA for the Gaddafi family are stakes in defence group Finmeccanica, carmaker Fiat, truckmaker Fiat Industrial and soccer club Juventus.