Angolan state-owned oil company, Sonangol, has agreed, in a tripartite agreement, to sell 31.78% of its assets held in Puma Energy to Trafigura at $600 million.

In another transaction, the national oil company acquired through Sonangol Holdings some of the most important strategic assets of Puma Energy, which includes Pumangol retail network of service stations, airport terminals in Luanda, Catumbela, Cunene and Lubango.

According to ANGOP, in a note delivered, 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 the sale of Sonangol shares in Puma Energy to Trafigura and the subsequent acquisition of Pumangol will last between six (6) to eight (8) months, as both parties agreed to a period of transition of a year for the replacement of Pumangol logo.

Sonangol is currently on an asset disposal programme to sell over fifty (50) assets and shares held in the companies of Real Estate, Tourism, Petroleum, Telecommunications and Finance sectors.

ABOUT TRAFIGURA

Trafigura Group Pte. Ltd. is a Singaporean multinational commodity trading company founded in 1993 that trades in base metals and energy. It is legally registered and headquartered in Singapore. Farringford N.V., registered in Curaçao, is the ultimate legal domicile.