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Privatization of the States 20 percent in Mota-Engil will no longer be on the stock exchange but in a public tender

The Government decided to change plans and proceed with the privatization of the State's 20 percent stake in Mota-Engil Angola through a public tender. It should be noted that in December 2020, it had been established that the shares would be sold through a public offering on the stock exchange, but the strategy was changed.

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The change in strategy is contained in presidential order no. 32/22, which justifies the decision on the basis that, until now, "the necessary conditions for the sale of the respective shares" have not been met.

According to Expansão, the forecast is to sell the stake by next July.

It is recalled that the State participates indirectly in Mota-Engil Angola through Sonangol Holding, Limitada.

The Portuguese group is the largest shareholder in Monta-Engil Angola, holding 51 percent of the shares.

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