Maputo, 23 Apr (AIM) – The Mozambican Competition Regulatory Authority (ARC) has announced that the publicly-owned fuel company, Petromoc, has sold 20 per cent of its shares in Maputo International Airport Fueling Services Limitada (MIAFS) to the company I2A Investments and Holdings.
MIAFS was a joint venture between Petromoc and British Petroleum (BP), each owning 50 per cent of MIAFS, which operates depots for the supply of aviation fuel, the operation of the hydrant line, the design and construction of fuel storage depots and aircraft refuelling services at Maputo International Airport. However, over the last year, BP decided to sell all the shares it held in MIAFS to Petromoc.
Since this deal gave Petromoc a dominant position in the aviation fuel market, the ARC ordered the company to sell off at least half its shares in MIAFS within a year.
I2A Investments and Holdings describes itslf as a commercial company 100 percent owned by Mozambican shareholders, dedicated to the storage, sale and distribution of bulk liquid and solid petroleum products.
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