Sonangol Begins Second Round of Sale of Equity - Africa’s premier report on the oil, gas and energy landscape.

Sonangol Begins Second Round of Sale of Equity

Angola’s state hydrocarbon copay Sonangol has launched the second round of its widely anticipated international pubic bid for the sale of its stakes in 52 companies.

Nine companies are up for grabs in this tranche, three more than the six that were involved in the tender launched in January 2020.

The companies include Petromar, where it is divesting 30%; Sonatide Marine Limited, and Sonatde Marine Angola Limitada, 51%; Sonamet Industrial S. A and Sonacergy Services and Oil Construction Limited, 40%.

Sonangol will divest 33% from each of Paenal-Porto Amboim Shipyard and SBM Shpyard. It will sell 30% of Sonadiets Limitad and Sonadiets Services SA.

The companies for sale this time are all involved in oil and gas operations, whereas those in the January 2020 tender are enterprises in non-oil and gas functions

Bidders are expected to submit qualification documents to the Negotiation Committee for the Process of Disposal of Sonangol’s Quota in Mineral Resources and Petroleum Segment.

They are required to present a provisional bond and a value raging from $7000 to $15,000  or equivalent in Kwanzas, based on the existing foreign exchange rate.

The tender is being conducted under the terms of the country’s Public Procurement Law and applications will start to be received in mid May 2020.

 

 

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