Trafigura, one of the world’s largest commodities trading firm, has raised $500 million from the sale of a 10% stake in its African unit Puma Energy, the company said in a prospectus.
The Company now owned 49% in Puma Energy, having sold stakes to Sonangol, Angolan state energy firm, and a diversified Angolan business group Cochan, according to the prospectus.
The transaction values Puma at about $5 billion.
Trafigura is the world’s second largest independent metals trader after Glencore Xstrata, and the third-largest oil trader behind Vitol and Glencore. Africa has been the biggest revenue generator for the global trading firm in the past years, outpacing Europe, Asia and the Americas.
