LONDON: London-based private equity firm Klesch said yesterday it had signed an $8bn deal to build a 300,000 bpd oil refinery and a 725,000 tonne per year aluminium smelter in Libya. The complex is to be built by 2011, Klesch and Co Ltd said in a statement.
Head of the company A Gary Klesch told Reuters he could not disclose where exactly the complex would be built, but the Libyan government would make an announcement “in due courseâ€‌. He added that the project fitted in well with the company’s other activities. “We’re into a lot of different commodities and we already own a smelter,â€‌ Klesch said. “This fits in with our business plans.â€‌

Klesch & Co. Ltd

Company Overview

Klesch & Company Limited (“Klesch & Company”) is a family office which focuses on making control equity investments across a broad spectrum of industries.

Opportunistic in our approach, Klesch & Company is interested in acquiring businesses no longer considered central to the growth plans of their current owners. Such businesses may be non-core divisions of large corporations, secondary buy-outs, refinancings or disposals. The businesses can be stable or underperforming.

Our transaction history includes having acquired businesses in the recent past from large public corporations such as: Alcan, AEGON, Deutsche Telekom, and Dynegy.

Founded in 1990, Klesch & Company has made investments valued at in excess of $5 billion across Europe, the USA and Asia.

The firm is headed by A. Gary Klesch, Chairman and Founder of Klesch and Company.