Namibia: Trafigura, Sonangol Clinch BP Deal

16 November 2010

PUMA Energy has partnered up with Angola's state-owned oil company, Sonangol, to buy all of BP's assets in Namibia and Botswana, holding company Trafigura confirmed yesterday.

The Sociedade de Combustíveis de Angola (Sonangol) will have ten per cent of the shares in the acquired businesses, Trafigura said in a statement. The company added that the deal is subject to regulatory approval, indicating that the Namibia Competition Commission (NCC) will require a satisfactory black economic empowerment (BEE) component to the transaction before okaying it.

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