Posted on 29 September 2011.
Sale of 20% stake in Puma Energy to Sonangol Holdings, LDA
29 September 2011
Sonangol Holdings has agreed to acquire a
20% stake in Puma Energy International (“Puma Energy”)
Formed in 1997, Puma Energy has grown rapidly
to become one of the largest independent midstream and downstream
companies operating worldwide. Headquartered in Switzerland,
Puma Energy operates in 26 countries, employing over 1,800
people.
Sonangol’s entry into the capital of
Puma Energy is a key milestone in the group’s development,
recognising the success of Puma Energy’s business model, the
strength of its management team, and the attractive opportunities
for growth available in today’s dynamic midstream and downstream
global marketplace.
This transaction is an important first
step in the group’s strategy to open up its capital to strategic
and public investors alike.
The combination of Sonangol and Puma
Energy’s industrial expertise and access to market will give Puma
Energy a strong competitive advantage and act as a catalyst for
growth over the coming years.
Pierre Eladari, Puma Energy’s Chief
Executive Officer, commented: “I am delighted to welcome Sonangol
Holdings into the Puma Energy group, after years of successful
collaborations together in the downstream industry.
Sonangol’s professionalism, market insight and strategic
vision made them our natural choice as our first strategic
partner.
“Sonangol’s participation offers us new and
attractive opportunities for growth, and marks the start of a new
phase in the development of the Puma Energy group on the global
stage.”
“We are very pleased to make this strategic
investment in Puma Energy, a company we know well from our
cooperation over the years. We believe this can only enhance the
relationship. We look forward to being a part of the growth and
development plans of Puma Energy,” added Baptista Sumbe, president
of Sonangol Holdings and a board member of Sonangol E.P.
Furthermore, the shareholders of the
parties, through their affiliates Sonagas and DT Holdings, have
agreed to develop joint investment opportunities in, and trading
of, natural gas and natural gas liquids.
ENDS
For further information please contact:
Puma Energy press office:
Tel: +44 207 009 1708
mediainfo@puma-energy.com