Africa-Press – Angola. The Head of State, João Lourenço, decreed, this Wednesday (26), the public appropriation, via nationalization, of the shares in Sociedade Mineira de Catoca Lda, held by LL Internacional Holding BV.
The measure takes into account the fact that LL Internacional Holding BV is, at the moment, a company subject to strong restrictive measures in the country and abroad, which led to the seizure of its shareholding by the National Service for the Recovery of Assets and the establishment of sanctions by the US Office of Foreign Assets Control. It is the understanding of the President of the Republic, according to the Decree, that the maintenance of LL Internacional Holding BV in the corporate structure, with the current judicial and reputational problems, jeopardizes the strategy of Sociedade Mineira de Catoca Lda, since it makes it impossible to access vital functions for the development of current and future mining projects.
Appropriate quotas through the diploma signed by the Head of State are considered to be transferred to the State, regardless of any formalities, free of any encumbrances or charges, being enforceable against third parties after registration.
The management of the social participation now appropriate is attributed to ENDIAMA MINING LDA, which represents the State in all its rights, under the terms of the law.
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