Lisbon, July 22, 2024 (Lusa) - Portugal-based energy company Galp Energia has sold its operations in Guinea-Bissau to Zener International Holding, in a €31-million deal that means it will exit this Portuguese-language country in West Africa, it announced on Monday.

"During the second quarter of 2024, Galp signed an agreement with Zener International Holding, S.A. for the sale of its downstream business [marketing of oil products] in Guinea-Bissau," reads a statement sent to the market, as part of the release of the company's results.

The transaction should be completed by the end of this year and is subject to the typical regulatory authorisations, adds the company in the information made available to investors.

Galp has already received €5 million for the sale of this local operation and should receive the remaining €26 million once the deal is concluded.

In Guinea-Bissau, the company has a network of 16 petrol stations, the logistics operation of CLC GB, which operates the import and storage terminal, and airport refuelling operations.

MBA/ARO // ARO.

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