Bloomberg News

Sonangol Wants to Buy Up to 15% of Galp From Eni, Diario Says

March 15, 2012

Angolan state oil company Sonangol EP wants to buy a 10 percent to 15 percent stake in Galp Energia SGPS SA (GALP) from Eni SpA (ENI) of Italy, Diario Economico reported, without saying where it got the information.

The goal is to buy shares in Galp through Esperaza, a venture that groups Sonangol and investor Isabel dos Santos, the Portuguese newspaper said. Esperaza owns a stake in the Amorim Energia BV venture, which holds 33 percent of Galp. Eni also owns 33 percent of Galp.

To contact the reporter on this story: Henrique Almeida in Lisbon at

To contact the editor responsible for this story: Jerrold Colten at

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