Sonangol to take over Puma Energy’s downstream assets in Angola

Sonangol, Trafigura and Puma Energy have signed a series of deals that will see Sonangol take over Puma Energy’s assets in Angola.

First, Trafigura is to acquire Sonangol’s entire 31.78% stake in Puma Energy for $600mn. Puma Energy is then selling its Angolan assets to Sonangol – including the Pumangol fuel retail network of 79 service stations, airport terminals and marine terminals – for the same amount.

According to the companies, the deals will allow national oil company Sonangol ‘to protect itself from participating in the recapitalisation of Puma Energy’ and will allow Sonangol to optimise its operations and focus on its core business.