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Report: Standard Bank Angola shareholder agrees to sell entire 49% stake

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Report: Standard Bank Angola shareholder agrees to sell entire 49% stake

AAA Activos Lda. Chairman Carlos Manuel de Sao Vicente saidthe company agreed to sell its stake in Standard Bank de Angola SA to investment holding companyInpal-Investimentos e Participacoes Lda.

The StandardBank Group Ltd. unit and Inpal are working to finalize thetransaction, Bloomberg News reported May 6, citing the chairman's e-mailedstatement.

He said AAA Activos is offloading the 49% stake it acquiredin 2012 for "various reasons." Bloomberg reported that Standard Bankdeclined to comment and Inpal did not immediately respond to an e-mailedrequest for comment.