Sonangol, in a tripartite agreement, sold, to the company Trafigura, the 31.78% of the participation it held in Puma Energy, for the amount of USD 600 million.
In another act, the national oil company acquired, through Sonangol Holdings, some of Puma Energy’s most important strategic assets, which include Pumangol’s retail network, comprising 79 fuel stations, airport terminals in Luanda, Catumbela, Cunene and Lubango; the Porto Pesqueiro Storage Terminal, in the Bay of Luanda, and the Angobetumes company, for the same amount as the sale.
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.
The signed agreements are in line with the strategic objective included in the Privatization Program, with clear results in the optimization of Sonangol’s portfolio of assets, key elements for the purpose of focusing on its core business.
The completion of the process of selling Sonangol’s shares in Puma Energy to Trafigura, and the subsequent purchase of Pumangol, will take 6 to 8 months. In addition, the parties have agreed a one-year transition period for the replacement of the Pumangol logo.