Sonangol starts assets privatization in April

Luanda – The state-owned oil company Sonangol will begin in April this year the privatization of eleven of the 54 assets it owns in whole or in part a process that is in an advanced stage of preparation its C.E.O SebastiAPound o Martins announced last Thursday in Luanda.

According to the manager who was speaking at a press conference in the ambit of the 44th anniversary of the oil company the list includes Sonamet dedicated to the manufacture of metallic infrastructures in which Sonangol holds 40% of the shares panel manufacturing shipyard 40% and Petromar 30%.

Sonangol also intends to dispose of its participation in the Logistics Support Center in Soyo (30% of the shares) companies of the Sonadit group dedicated to the maintenance of offshore companies 30% two Sonatip companies providing maritime service 51% percent in each one and in BAI bank (8.5% share).

SebastiAPound o Martins emphasized that the oil company still does not know how much it will be able to pocket with this process due to the fact that the preparation of the sales package for these assets is in progress.

The privatization of these companies is part of the Privatization Programme (Propriv) a measure of the Executive that foresees that until 2022 at least 195 companies owned or with the participation of the State be alienated aimed to restructure the public business sector in Angola.

As part of the implementation of this process for the current year 81 companies should be sold through public tender six by public auction and three by initial public offering.

In 2021 12 more companies will be privatized with the remaining four scheduled to be alienated in the year 2022.

Source: Angola Press News Agency