Angola: General Dino sells its stake in Puma Energy
Trafigura now holds 96.6% of the shares after the referent was sanctioned by the US authorities on allegations of embezzlement.
Angolan general Leopoldino Fragoso do Nascimento, commonly known as "Dino", has sold his stake in Puma Energy following charges of embezzlement by US authorities. The decision to cease being a shareholder of the company came after his accounts were frozen by the United States Treasury Department.
As reported by the Portuguese news portal, Jornal de Negocios, the sale was made through Cochan, the holding company in which Dino concentrates its business holdings. In total, 3% of the capital was sold, thus ending its relationship with Puma Energy and leaving Trafigura with 96.6% of the company's shares.
In turn, the news comes after his resignation as vice-president of Unitel's board of directors became known at the beginning of December. Through the company Geni, Dino controls 25% of Unitel's capital and was forced to resign in order to protect the telecommunications operator from the sanctions of the North American entity.
Leopoldino Fragoso do Nascimento reduced his shareholding in Puma Energy in June 2020 after a transaction of more than US$390 million. The retired general had previously held 15% of Puma Energy via Cochan Holdings, but with the 2020 sale had reduced its stake to less than 5%. With the recent announcement, the company has ceased to be a shareholder in Puma Energy.
The U.S. entity qualified the former president's main collaborators, José Eduardo dos Santos, and General Manuel Hélder Vieira Dias as "former government officials who stole billions of dollars from the Angolan government through embezzlement".
