Angola: Sonangol Sells Its Shares in Puma Energy At Usd 600 Mln

Luanda — Angolan Oil Firm (Sonangol) has agreed, in a tripartite agreement, to sell its 31.78 percent of its assets held in Puma Energy to Trafigura at USD 600 million.

In another transaction, the national oil company acquired through Sonangol Holdings some of the most important strategic assets of the Puma Energy.

They include Pumangol retail network of service stations, airport terminals in Luanda, Catumbela, Cunene and Lubango.

In its note delivered to Angop, the company states to have acquired the Terminal Store of the Fishing Port at Luanda Bay and the Angobetumes company at the same amount.

The conclusion of sale of Sonangol shares in Puma Energy to Trafigura and the subsequent acquisition of Pumangol will last between 6 to 8 months.

The parties agreed a period of transition of a year for the replacement of Pumangol logo.

In total, Sonangol has to sell over 50 assets and shares held in the companies of Real Estate, Tourism, Petroleum, Telecommunications and Finance sectors.

In another transaction, the national oil company acquired through Sonangol Holdings some of the most important strategic assets of the Puma Energy.

They include Pumangol retail network of service stations, airport terminals in Luanda, Catumbela, Cunene and Lubango.

In its note delivered to Angop, the company states to have acquired the Terminal Store of the Fishing Port at Luanda Bay and the Angobetumes company at the same amount.

The conclusion of sale of Sonangol shares in Puma Energy to Trafigura and the subsequent acquisition of Pumangol will last between 6 to 8 months.

The parties agreed a period of transition of a year for the replacement of Pumangol logo.

In total, Sonangol has to sell over 50 assets and shares held in the companies of Real Estate, Tourism, Petroleum, Telecommunications and Finance sectors.

More From: ANGOP

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.