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Two out of four joint investment companies with Syria have been liquidated, the Iraqi Fund for External Development has revealed.
In a statement on Thursday, the Fund noted that 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 percent 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 percent 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.
Iraq currently maintains investments in 30 joint companies across the Arab region.
(Reporting by Nadim Kawach; Editing by Anoop Menon)
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