CKA WILL BE THE LEGAL ADVISOR IN THE PRIVATIZATION OF ENSA

IGAPE (Instituto de Gestão de Activos e Participações do Estado) has selected the Angolan bank Banco Millennium Atlântico, S.A. to be the financial intermediary of the first phase of the privatization of ENSA - Seguros de Angola, S.A., as provided by PROPRIV - the Government Privatization Program.

Banco Atlântico will act with multinational partners with recognized technical and financial expertise and experience in privatization processes, public procurement, capital markets, and M&A operations in an international context.

To ensure the legal and regulatory consistency of the transaction, the Angolan law firm CKA & Associados - Sociedade de Advogados, R.L. was also selected, which will also act in partnership with multinational partners with relevant experience and capability under the applicable professional rules.

The financial intermediaries and legal advisors will be responsible for supporting the structuring, due diligence, valuation, disclosure, roadshow, selection of investors, and sale of the shares, in addition to other tasks inherent to the implementation and completion of this phase of the privatization. 

ENSA's privatization will be carried out in stages, the first through a limited tender with prior qualification (Concurso Limitado por Prévia Qualificação) and the second through an IPO - Initial Public Offering on the Stock Exchange, under the terms of the legislation that governs it.

The privatization processes of the State's holdings in BAI - Banco Angolano de Investimentos, S.A. and Banco Caixa Geral Angola, S.A. are also underway, and the respective advisors will be announced shortly. It should be noted that Standard Bank Angola, S.A. is the financial intermediary already selected for the privatization of Banco de Comércio e Indústria, S.A.

The consultants to the privatization processes under the PROPRIV are selected under competitive bidding procedures in strict compliance with the applicable rules, and the costs are supported in local currency with the result of the sales.