Angola sells public construction company Bricomil

10 February 2015

The government of Angola will sell all shares in construction company Brigada de Construção Militar (Bricomil), according to an order from the Economy Minister, Abraão Gourgel.

Through the order, the minister is creating a “negotiating commission” to ensure the “sale of all shares” of Bricomil, within 15 days of the approval of the sale.

Information released in 2014 showed that the workers of the construction company, incorporated in 1994, should get 13 percent of the shares, 75 percent will be sold to a private business entity and the remaining portion (12 percent) sold to other subscribers.

Along with the Angolan State, which owns 50 percent of the share capital, Bricomil’s shareholders are the Angolan state oil company Sonangol, Banco de Poupança e Crédito, Banco de Comércio e Indústria and insurance company Empresa Nacional de Seguros de Angola, each with 12.5 percent.

The company operates in the civil construction sector and in 2012 posted turnover of around US$1.1 million, and its assets are real estate and land.

Bricomil is one of a list of 27 companies due to be privatised by 2018 according to a list released in 2014 by the Ministry for the Economy. (macauhub/AO)