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Sonangol then “donated” a proportion of that to front companies that lead to Isabel dos Santos, requiring her only to pay up once she had pocketed sufficient dividends from the investment.So far as Maka Angola has been able to establish, there is no evidence whatsoever that Isabel (or her front companies) ever paid Sonangol the agreed sums.Amorim Energia’s majority owner (with 55%) is Portugal’s richest man, Américo Amorim, who was Isabel’s partner in creating the BIC bank in 2005.The two are also partners in the company Nova Cimangola, acquired from Cimpor by the Angolan State for -million.

Isabel dos Santos formally admitted to the Portuguese Competition Authority that she is the minority shareholder in Esperaza Holding through Exem Africa. Sonangol paid for 45% of the shares in Amorim Energia which in turn held 38.4% of the shares in Galp.However, the formal agreement shows that she received 40% of the stakes, and not 45% as she misleads the public to believe.The deal was signed by Manuel Vicente, then Chairman of the Board and CEO of Sonangol (now Angola’s Vice-President) and on Isabel’s behalf by her legal counsel, Fidel Kiluanje Assis Araújo.It was a sweet deal because Isabel didn’t have to pluck a single penny out of her own purse.The money would come out of the Galp dividends paid to Esperaza Holding along with nonconvertible units at the Euribor three-month interest rate.

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