Goldman Sachs Offered Libya the Chance to Be Big Shareholder

By Alan Purkiss

Goldman Sachs Group Inc. (GS) offered Libya the opportunity to become one of its biggest shareholders two years ago, the Wall Street Journal reported, citing unidentified people familiar with the matter and Libyan and Goldman documents that it’s reviewed.

The offer of preferred shares or unsecured debt in Goldman followed the almost total loss during the financial crisis of an investment of $1.3 billion in the bank by the Libyan Investment Authority, the Middle East country’s sovereign wealth fund, the newspaper said.

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