Galp is one of Portugal’s leading companies, with a market value of €9.437bn and interests in 13 countries.
The oil and energy company Galp Energia has figured in several privatisation lists drafted by various Portuguese governments. With the arrival of the €78bn bailout, Galp was once again included but the process was later postponed.
The initial plan was to sell the state’s 7% stake on the free market but by the time of the second assessment of Portugal’s bailout programme (September 2011), the international lenders and the Portuguese government decided to postpone the process “until market conditions improve.”
One of Portugal’s leading companies, with a market value of €9.437bn and interests in 13 countries, Galp still has 7% of its shares in the hands of the state through the state holding Parpública – Participações Públicas S.A., along with a 1.1% stake held by state-owned bank Caixa Geral de Depósitos. Amongst the companies potentially interested in making a bid are Angolan Sonangol, already a shareholder in Galp, and the Portuguese company Amorim Energia which recently bought Eni’s share in Galp.Galp Energia
Sector: Energy and oil
Date: No date has been defined and the process has been delayed “until market conditions improve”