Portugal: President JoAPound o Lourenco reassures Portuguese bank on supposed SONANGOL withdrawal

Lisbon – Angolan head of State JoAPound o Lourenco said he had reassured Portuguese bank BCP, participated of the national company SONANGOL, about the possibility of the oil company withdrawing from the bank’s capital.

During a press conference at the end of his first State visit to Portugal, the President of the Republic took advantage to avoid, at least for now, the possibility of SONANGOL divesting its stake in BCP and Galp Energia.

“There is a Portuguese company that came to me worried to know if SONANGOL was going to leave. And I said that you can sleep well. And I’m referring to a bank, “said JoAPound o Lourenco.

SONANGOL is the second largest shareholder in the Millennium BCP group, with a 19.5% stake.

Of its indirect position in Galp, the Angolan oil company holds 60% of Esperaza, which holds 45% of Amorim Energia, and it is the largest shareholder of Galp, with 33.34%.

“No Angolan official has ever said that the national company would withdraw from the business it has in Portugal. This part is important, “said the Angolan head of state, explaining that” the orientation that SONANGOL has is to analyze case by case which companies should withdraw. “

According to the Angolan statesman, up to now it has been concluded that 52 companies should be withdrawn, but not from the oil area.

“It is very unlikely that SONANGOL is interested in having a stake in Galp in the way it has just cited,” said JoAPound o Lourenco when faced with the possibility of SONANGOL strengthening Galp by buying the company’s share of Isabel dos Santos.

“We have nothing against the Portuguese of the Amorim group, on the contrary, but in a marriage there must be reciprocal will between the groom and the bride. Both have to be interested, “said JoAPound o Lourenco in relation to the partnership with Esperaza holding company, the vehicle of the (indirect) participation of Angola in Galp.

Source: Angola Press News Agency