Odebrecht to exit Angola diamond mine, sources say

August 2, 2017

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Odebrecht SA, the Brazilian conglomerate selling assets in the wake of a corruption scandal, has agreed to sell a 16.4% stake in the world’s No. 4 diamond mine to a partner, a person with direct knowledge of the transaction said on Tuesday. According to the person, Odebrecht exited Sociedade Mineira de Catoca Lda to meet terms of a 12-billion-real ($3.84-billion) asset sale goal. State-run Empresa Nacional de Prospecção, Exploração, Lapidação & Comercialização de Diamantes de Angola, commonly known as Endiama, bought out the stake with the help of other partners in Catoca, the person added.

Category: General