2 days ago
Iraq liquidates two of four joint investment firms with Syria
Shafaq News/ Two out of four joint investment companies with Syria have been liquidated, the Iraqi Fund for External Development announced on Thursday.
According to an official report, Iraq holds investments in four Syria-based companies, operating in both euros and US dollars.
The first to be liquidated was the Arab Company for Livestock Development (ACOLID), with capital exceeding $210 million and a 16.8% Iraqi stake valued at $35.684 million. The second is the Iraqi-Syrian Land Transport Company, which holds €10 million in capital, half of which is owned by Iraq at a value of €5 million.
The report also noted that two other companies are undergoing liquidation: the Iraqi-Syrian Maritime Navigation Company, with a capital of €25 million—of which Iraq holds a 50% share worth €12.5 million—and the Iraqi-Syrian Telecommunications Company, which has a capital of €20 million, with Iraq's stake amounting to €10 million.
