MILAN Feb 28 The Libyan sovereign wealth fund
said on Thursday it was taking legal advice over losses on
structured products managed by Goldman Sachs.
In a statement released in Italy, the Libyan Investment
Authority (LIA) also said it was cooperating with the U.S.
Securities and Exchange Commission, which is examining whether
the U.S. investment bank and other financial companies violated
bribery laws in their dealings with the LIA.
Last year, the LIA said it was investigating investment
losses of $1.75 billion on structured products managed by
Goldman Sachs and Societe Generale to see whether it
could claim compensation.
Earlier on Thursday, Libya's prime minister said the head of
LIA, Mohsen Derregia, would be replaced after the government
deemed his performance unsatisfactory.