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Sonangol Would Have to Be Restructured Before Sale

State hydrocarbon firm Sonangol has not yet created the right conditions required for some of its equity to be sold in the ongoing privatization of Angola’s national assets.

One of such conditions include restructuring not only the company, but the (oil) sector in which Sonangol is involved “and as we know this restructuring is only just beginning”, according to Patrício Vilar,  chairman of the Board of Directors of the Institute for Management of State Assets and Holdings (IGAPE)

But he said that the state has kept Sonangol in its privatisation process in 2022.

Sonangol -owned assets make up about a quarter of the entire Privatisation bucket list.

The list includes divestments in the subsidiaries and assets of Sonangol Cabo Verde – Sociedade e Investimentos and Óleos de São Tomé and Príncipe, as well as stakes in Founton (Gibraltar), Sonatide Marine (Cayman Islands), Solo Properties Knightbridge (United Kingdom), Societé Ivoiriense de Raffinage (Cote d’Ivoire), Puma Energy Holdings (Singapore) and Sonandiets Services (Panama), by 2021.

Sonangol will sell also its stake in WTA-Houston Express and French company WTA, as well as assets in Portuguese real estate companies Puaça, Diraniproject III and Diraniproject V, in Sonacergy – Serviços e Construções, Sonafurt International Shipping and Atlantis Viagens e Turismo.

Sonangol also holds assets to be privatised in Angolan companies in the Health, Education, Transport, Telecommunications, Energy, Civil Construction, Mineral Resources and Oil and Banking sectors.

 

 

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