The Attorney General of Angola, having blocked the participation in Catoca of LLI International (a division of China Sonangol), transferred control of its 18-percent share to the governmental Institute of Asset Management and State Equity (Instituto de Gestão de Activos e Participações do Estado, IGAPE), which brought Angola's share in Catoca to 59%, clbrief.com said in a report.
The other major stakeholders in Catoca are Russia’s ALROSA and Angola’s state-owned Endiama.
According to the report, China Sonangol was established almost twenty years ago as a joint venture between the Queensway group of companies centered on Chinese tycoon Sam Pa and Angolan state oil company Sonangol. In 2015, Sam Pa was detained in Beijing in a corruption case that China Sonangol said in an interview with the Financial Times is currently being litigated.
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