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Angolan Investors Want Direct Stake in Galp Energia, Diario Says

Angolan state oil company Sonangol EP and Angolan investor Isabel dos Santos want to have a direct stake in Galp Energia SGPS SA of between 8 percent and 16 percent and are willing to reduce their holding in Amorim Energia BV, Diario Economico reported, citing an unidentified person close to the Angolan investors.

That is a scenario that the Angolan investors are proposing in exchange for supporting Petroleo Brasileiro SA’s purchase of Eni SpA stake in Galp, according to the Portuguese newspaper.

Amorim Energia, a venture controlled by Portuguese investor Americo Amorim, holds 33 percent of Portuguese oil company Galp.

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To contact the reporter on this story: Joao Lima at jlima1@bloomberg.net

To contact the editor responsible for this story: Jim Silver at jsilver@bloomberg.net

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