BID TO REPLACE SNC-LAVALIN'S STAKE IN LEBANON'S LIBANPOST
Lebanese group Investment House received a
tentative nod on Monday to replace Canadian company SNC-Lavalin as the main
investor in LibanPost, reports Lebanon’s Daily Star newspaper. But a deal has not yet been finalized and remains subject to Cabinet approval,
official sources told the newspaper. Investment House beat Kuwaiti International Investment Group and Acropi
Group/Abchee to take the largest stake in Lebanon’s national postal service,
said the sources. The postal company claims that SNC-Lavalin has lost US$20 million in the
unprofitable venture. (ONA) Page n/a Copyright 2001 Asia Pulse Pte Ltd. (c) 2001 Resp. DB Svcs. All rts. reserv.
$$ASIA PULSE, 25th July 2001
