Angolan National Fuel Society (Sonangol), the Angola's state oil company, has sold 31.78 percent of the stake it held in Puma Energy, for 600 million U. S. dollars, according to a press release reaching Xinhua here.
The transaction happened under a tripartite agreement, which included the Trafigura company as the buyer.
"These transactions represent the culmination of the efforts of the national oil company, aiming to protect itself from participating in the recapitalization of Puma Energy," read the document, stressing the agreement are in line with the strategic goal included in the privatization program, with evident results in the optimization of Sonangol's portfolio of assets, key elements to focus on its core business.
The completion of the relevant procedures, including selling Sonangol's shares in Puma Energy to Trafigura, will take between six and eight months, according to the document.
Sonangol has previously announced the purpose of selling more than 50 assets and shares it held in companies in the real estate, tourism, oil, telecommunications and finance sectors. Enditem