Angola moves to seize Dos Santos-linked asset in Dutch court
Angola has asked a Dutch court to hand over a half-billion-dollar stake in the Portuguese oil company Galp linked to ex-first daughter Isabel Dos Santos, its lawyers told Reuters.
Angola’s government says top officials under former president Jose Eduardo dos Santos took advantage of high oil prices in the last decade to spin a global web of business deals that led to their personal enrichment at the country’s expense.
Battered by COVID-19 economic fallout and mired in foreign debt, Angola is seeking to recover assets it says were siphoned off.
Its prime focus is Isabel dos Santos, the ex-president’s daughter, a business tycoon who became Africa’s richest woman.
The legal bid for the Galp stake has not previously been reported.
Dos Santos briefly ran state oil company Sonangol from 2016 until 2017, when her father’s four-decade rule ended.
Representatives for Isabel dos Santos, who lives outside Angola, did not reply to a Reuters request for comment.
She has denied any connection to the holding company at the centre of the case – Exem – which she says was owned by her late husband, rejects charges of wrongdoing and says she faces a political witch hunt by Angola’s new leadership.
Representatives of Exem did not reply to a request for comment. Dutch law firm Van Doorne, which represents Exem in the lawsuit, also did not respond to a request for comment.
Battered by COVID-19 economic fallout and mired in foreign debt, Angola is seeking to recover assets it says were siphoned off.
Its prime focus is Isabel dos Santos, the ex-president’s daughter, a business tycoon who became Africa’s richest woman.
The legal bid for the Galp stake has not previously been reported.
Dos Santos briefly ran state oil company Sonangol from 2016 until 2017, when her father’s four-decade rule ended.
Representatives for Isabel dos Santos, who lives outside Angola, did not reply to a Reuters request for comment.
She has denied any connection to the holding company at the centre of the case – Exem – which she says was owned by her late husband, rejects charges of wrongdoing and says she faces a political witch hunt by Angola’s new leadership.
Representatives of Exem did not reply to a request for comment. Dutch law firm Van Doorne, which represents Exem in the lawsuit, also did not respond to a request for comment.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.