The saga involving geopolitics and valuable corporate assets has finally come to an end, following confirmation of the Russian company Alrosa’s exit from Angola’s diamond sector. Neither the Government nor Endiama’s long-time strategic partner disclosed the amounts involved in this deal. With the signing of the public deed on May 26 in Luanda, the entry of the company Taadeen—allegedly a subsidiary of the Oman Investment Authority (OIA)—into the capital structure of the mining companies Catoca and Luele was formalized. These two companies account for 97% of Angola’s diamond production.
The corporate restructuring, under discussion since the outbreak of the war between Russia and Ukraine, led to the departure of the former strategic partner Alrosa. However, not all details of the transaction have been disclosed, raising concerns about transparency and access to information in publicly owned companies.
Throughout this process—marked by delays, reversals, and high levels of secrecy—the amount paid to Alrosa to enable Taadeen’s entry (which is said to have acquired the stake directly from Endiama) was never publicly announced. Taadeen has also not provided any information about its investment in the country’s two largest diamond mines.
While the new management board of Catoca was announced during the week, including two members from Oman, no information was provided regarding the distribution of the company’s capital among the new owners. Officially, it is only known that Alrosa’s stake in Catoca was 41% (with Endiama holding the remaining 59%), while the Sociedade Mineira de Catoca held 50.5% of Luele and Endiama 44.5%. Reform, with 4%, and the Geological Institute of Angola (IGEO), with 1%, hold minority stakes.
With the entry of Taadeen, which does not have an active website (and is not referenced on the official page of the Oman Investment Authority), it remains unclear how cross-shareholdings in the two mining companies have been reorganized.
Regarding Catoca’s new management team, it is worth noting the appointment of Abdul Sattar Mohammed Al Murshidi as Chairman of the Board (non-executive), and Tammam Al Mughairi as a non-executive manager. Benedito Paulo Manuel, now executive manager and CEO of Catoca, stepped down as Chairman of the Board but retained his key executive functions.
Engrácia Soito João, Andrei Dubno, and Sergey Chuvilin (both representatives of Alrosa) also left Catoca’s management team, making way for Paulo Martins (non-executive manager), Alexander Reznik (finance area), and Manuel Manassa, who was appointed as a non-executive manager.
No updated information has been shared regarding the composition of the board of directors of Sociedade Mineira do Luele.
Source: Expansão
