Thursday, June 4, 2020

Sonatrach Shortlists 4 Firms for Trading Joint Venture

February 11, 2019

Algeria's Sonatrach has shortlisted four firms, with only one to be selected, to set up a trading joint venture, the company's chief executive Abdelmoumene Ould Kaddour told reporters.

"Of the 14 international firms interested in a trade JV with Sonatrach, we have shortlisted four," Ould Kaddour said without giving the names of the firms.

Ould Kaddour also said he is heading to Athens on Tuesday to discuss the acquisition of a Hellenic Petroleum stake.

"I will go tomorrow to Athens to discuss the issue, this could be a very interesting acquisition for our country," Ould Kaddour told Reuters on a sideline of a signing ceremony.

Glencore Energy and Vitol Holding were shortlisted last summer to submit bids for a 50.1 percent stake in Greece's biggest refiner. Last month the Greek privatisation agency agreed for Glencore to team up with CIEP Participations, a unit of U.S.-based Carlyle Group; and for Vitol Holding to team up with Sonatrach. 

(Reuters, Reporting by Lamine Chikhi; editing by David Evans)

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