Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

Angola: Banco Economico to acquire important participation in Tranquilidade-Corporação Angolana de Seguros

Thursday, 09 May 2019 11:44
Angola: Banco Economico to acquire important participation in Tranquilidade-Corporação Angolana de Seguros

(Ecofin Agency) - Angolan bank Banco Economico will soon make an important participation in local insurance company Tranquilidade-Corporação Angolana de Seguros. This was announced by the Competition Regulatory Authority of Angola ARC indicated in a communique published on May 7, 2019, without mentioning the exact volume of stakes to be acquired.

It, however, indicated that it received the notification of that deal on March 25, 2019, as required by the competition act adopted on March 2018.

This law stipulates that prior notice should be addressed to the competition authority in case of merger acquisitions where 30% or more of market shares are acquired, created or consolidated. In Angola, the turnover of each of the two firms involved is over Kz450 million (about $1.4 million).





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.