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.
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