Angola: Endiama Now Owns 41 Percent of Catoca

Luanda — National Diamond Company - Endiama currently holds 41% of the shares of Sociedade Mineira de Catoca (SMC), with the conclusion of the partial purchase of shares from "Odebrecht Angola.

Endiama held 32.8% of SMC's shares and bought 8.2% of Odebrecht Angola for US$70 million (around 45.5 billion Kwanzas).

Odebrecht Angola announced the sale of its shares, equivalent to 16.4 percent, still in 2017. Alrosa, another shareholder of SMC, also acquired 8.2%, similarly to Endiama, remaining with 41%.

Although it expressed its intention in 2017, it was only in January 2018 that a Presidential Decree authorised the deal. On that occasion, the shareholder Odebrecht justified that it would concentrate only on its infrastructure projects.

The acquisition of Odebrecht Angola's share, according to a statement from Endiama E.P. to which ANGOP had access today, is part of its strategy, which aims to return to its own production, as well as boosting diamond capital in the mining companies of Lunhinga, Luminas, Chimbongo and Camutué (currently Sociedade Mineira do Kixepa).

The purchase operation was carried out using the equity of Empresa Nacional de Diamantes de Angola, the note said, citing Ana Feijó, the administrator for Geology and Mining Development

Endiama held 32.8% of SMC's shares and bought 8.2% of Odebrecht Angola for US$70 million (around 45.5 billion Kwanzas).

Odebrecht Angola announced the sale of its shares, equivalent to 16.4 percent, still in 2017. Alrosa, another shareholder of SMC, also acquired 8.2%, similarly to Endiama, remaining with 41%.

Although it expressed its intention in 2017, it was only in January 2018 that a Presidential Decree authorised the deal. On that occasion, the shareholder Odebrecht justified that it would concentrate only on its infrastructure projects.

The acquisition of Odebrecht Angola's share, according to a statement from Endiama E.P. to which ANGOP had access today, is part of its strategy, which aims to return to its own production, as well as boosting diamond capital in the mining companies of Lunhinga, Luminas, Chimbongo and Camutué (currently Sociedade Mineira do Kixepa).

The purchase operation was carried out using the equity of Empresa Nacional de Diamantes de Angola, the note said, citing Ana Feijó, the administrator for Geology and Mining Development

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