UK-based private equity firm is interested in buying a stake in Angola’s state-owned oil company Sonangol, Bloomberg has reported, citing a source from the firm, Gemcorp. After the Angolan government establishes a procedure for the sale of up to 30 percent of Sonangol—a privatization deal that could fetch $6.
4 billion—Gemcorp will evaluate a possible acquisition, the head of investments at Parvoleta Shtereva told Bloomberg. Angola is the second-largest oil producer in Africa, after only Nigeria, but it has been experiencing reserve…UK Private Equity Firm Looks To Buy Stake In Angola's Oil Major Sonangol
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