Luanda delays approving $600m Sonangol-Trafigura deal

Luanda delays approving $600m Sonangol-Trafigura deal

Angola is dragging its feet in issuing the required permit for the share swap deal, hoping to gain concessions on debt to Trafigura Group that reached $409 million in 2017, and which the authorities are struggling to pay off.

Someone shares this article with you
            ▪ Luanda delays approving $600m Sonangol-Trafigura deal

▪ Angola is dragging its feet in issuing the required permit for the share swap deal, hoping to gain concessions on debt to Trafigura Group that reached $409 million in 2017, and which the authorities are struggling to pay off.

https://www.africabusinessplus.com/en/810407/luanda-delays-approving-600m-sonangol-trafigura-deal/

Last year, the government asked the Swiss group for a second postponement on the maturity of its debt to Angola Exploration Mining Resources (AEMR). This former subsidiary of Trafigura, which was 30% owned by Luanda and operated iron deposits, was liquidated in 2016 following a change in the regulatory framework for the extractive sector.

This article is for subscribers only. To read more, subscribe with a special offer.

You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Oil & Gas

20/10/2021 at 16h55, by Africa Business+, updated 21/10/2021

Who is Gemcorp the firm in the running for Sonangol’s Lobito refinery contract?

The British company Gemcorp Holding Ltd, in partnership with Angolan engineering and construction company...

Oil & Gas

30/09/2021 at 14h41, by Africa Business+

Trafigura takeover of Puma Energy confirmed

According to Jeune Arfique Business+, the takeover of Puma Energy by its main shareholder Trafigura is...

Oil & Gas

22/06/2021 at 15h51, by Africa Business+

Sonangol seeks candidate for construction and financing of Lobito refinery

Angola’s national oil company will launch a public tender on 9 July for entities to join the project...

Oil & Gas

11/02/2021 at 19h07, by Africa Business+, updated 12/02/2021

Trafigura to grant another $70 million to Julien Balkany’s Panoro Energy

Trafigura has granted a $90 million production secured loan and will continue to support the firm, which...

Oil & Gas

04/02/2021 at 18h20, by Africa Business+

Oryx Energies’ Moussa Diao sidelines Trafigura, Litasco and Mercuria in Mauritania

Despite the country’s economy crawling forward at a snail’s pace under the weight of the COVID-19 pandemic,...

Telecoms

29/01/2020 at 15h20, by Africa Business+

Sonangol’s increased stake in Unitel raises questions about the enforcement of the arbitral award in favour of Oi

The billion-dollar transaction seals the Brazilian giant’s exit from the capital of Angola’s leading...

Any questions ? contact us

Please get in touch with the Africa Business+ team if you require any further information.

Email us : [email protected]

Add AB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add AB+ on the home screen.

3. Enter the name of the shortcut and confirm.