Austrians bought out of Libyan Cement Company by local investor

By Libya Herald reporters.

Tripoli, Tuesday, 28 April 2012:
Benghazi-based Libya Holdings Group is buying out the Austrian majority owner in the Libyan Cement . . .Company, in a deal which will give it control of the largest cement maker in North Africa.

The Austrian building materials firm Asamer bought into LCC when it was privatised in 2008 paying LD 200 million for a 50.6 percent share. The remaining equity was held by the Economic and Social Development Fund. Ten percent of the ESDF’s shares were supposed to be distributed to the workers.

Last year . . .

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