Portuguese water company Águas de Portugal sells of stake in Águas de Moçambique

28 December 2010

Maputo, Mozambique, 28 Dec – The Mozambican Fund for Investment and Facilities for Water Supply (Fipag) is due Tuesday to become the majority shareholder in Mozambican water company Águas de Moçambique under the terms of an agreement to be signed with Águas de Portugal, the fund said in a statement.

Águas de Moçambique is a consortium made up of Águas de Portugal, the majority shareholder, and Mozambique’s Mazi, which in 1999 signed a contract with Fipag for exploration of the water supply system in Maputo for a 15-year period.

Following negotiations between the sides, it was agreed that Águas de Portugal would sell, by 31 December 2010, its stake in Águas de Moçambique, the agreement for which is due to be signed Tuesday in the Mozambican capital.

Fipag also said that the acquisition of ADP’s shares in Águas de Moçambique was part of the Mozambican government’s aim to develop a robust and sustainable national water industry and to promote national qualified national operators. (macauhub)