Puma Announces Sale Of 20% Stake To BPOPF
Staff Writer | Monday October 12, 2015 15:55
The share sale equates to 20% of Puma Energy Botswana’s total ordinary shares in circulation. The board of directors welcome the BPOPF into the shareholding structure, which will contribute to securing the long-term development and stability of the Botswana economy and Puma Energy’s Botswana business.
Christophe Zyde, Chief Operating Officer of Puma Energy in Africa said: “The introduction of the BPOPF reinforces our commitment to Botswana. Puma Energy will remain focused on investing in Botswana and will continue to grow the business to create value for all stakeholders.”
Mahube Mpugwa, General Manager of Puma Energy Botswana commented: “The introduction of the BPOPF to our shareholding deepens an important strategic relationship between Puma Energy Botswana and Batswana, allowing us to achieve our local shareholder ownership objectives. Further to this agreement Puma Energy Botswana also supports the government’s initiative for developing the youth and reducing youth unemployment. Our comprehensive training and skills development programme is a meaningful foundation for their continued professional evolution.”
Commenting on the transaction , BPOPF Principal Officer BPOPF, Boitumelo Molefe said: “For the BPOPF, an acquisition of 20% of Puma Energy Botswana’s equity is a worthwhile initiative that sees us achieve our objective of investing locally for the benefit of our stakeholders. This investment further represents our support for international companies that offer Batswana sustainable opportunities as well as help diversify the local economy. We look forward to a mutually beneficial partnership.”
The BPOPF Board Chairman and the Permanent Secretary to the President, Carter Morupisi commented, “The BPOPF is entrusted to safeguard the investment of many stakeholders from all walks of life. We believe that our stakeholders will view and support Puma Energy Botswana with great pride in the knowledge that they now benefit from such a significant business. Puma Energy Botswana has proved time and time again that it is an important partner to Government’s initiatives in development, diversification and reducing youth unemployment. It is worth noting that through this partnership, Batswana will have a sense of ownership of a young vibrant retail brand.”
Rand Merchant Bank were the transaction advisors for the deal.