Ver Angola


Open competition for the sale of the State's shares in Cuca, Eka and Ngola. Applications until 3 July

The State has opened an invitation to tender for the sale of its shares in the Cuca, EKA and Ngola breweries.

: Vieira Aspirante/Angop
Vieira Aspirante/Angop  

According to a communiqué published on the website of the Instituto de Gestão de Activos e Participações do Estado (IGAPE), all those interested in participating have until 3 July to submit their proposal.

The contest is open to national and foreign investors. To apply, interested parties must present proof of financial capacity.

After analysing the bids, 'the most financially advantageous bid' will be chosen, indicates IGAPE. However, current shareholders will be able to exercise their right of preference and, if an offer of equal or greater value is made than that submitted by other possible investors, they will be able to keep the shares offered for sale.

According to Expansão, this right will also be applied when the State decides to put BAI, Caixa Angola and Unitel out to tender.

It is also established that up to 50 per cent of the purchase value may be paid with public debt securities. However, these securities must result from a settlement of a state debt in arrears.

Among those interested in investing is the French group Castel, writes Expansão

For more information about the competition you can consult the IGAPE page here.