Sonangol and Cobalt Announce US$1.75 Billion Transaction
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Sonangol to Acquire Cobalt's (CIE) Stake in Offshore Angola Blocks for $1.75B
August 24, 2015 7:03 AM EDTThe Angolan National Concessionaire Sociedade Nacional de CombustÃveis de Angola Empresa Pública (Sonangol) and Cobalt International Energy, Inc. (Cobalt) (NYSE: CIE) announced the signing of a Sale and Purchase Agreement for Sonangol to acquire all of Cobalts 40% participating interest in Blocks 21/09 and 20/11 offshore Angola (the Blocks) for $1.75 billion with an effective date of January 1, 2015. This transaction is subject to customary Angolan government approvals which are expected prior to the... More
