Portuguese group Espírito Santo sells Escom group to Angola’s Sonangol

19 January 2011

Lisbon, Portugal, 19 Jan – Rioforte, an investment company of Portuguese group Espírito Santo, has sold the Escom group to Angola state oil group Sonangol, Portuguese daily newspaper Jornal de Negócios reported.

The Escom group has been resent in Angola since 1991, where it is involved in 15 diamond concessions and in the Democratic Republic of Congo since 2000, via SCCT – Societe Congolaise de Travaux Publiques.

Rioforte controls 67 percent of Escom and the remaining 33 percent is owned by Helder Bataglia, who is chairman of the company’s board.

According to the group’s website, Escom is present in Angola, South Africa, Congo, Mozambique and Portugal. (macauhub)