Cameroon Government to buy back Total’s stake in Sonara

CAMEROON – The government Cameroon is seeking to repurchase Total Outre-Mer S.A.’s shares in Sonara, the only refinery in the country, according to a report published by the Technical Committee for Rehabilitation of Public and Para Public Sector Enterprises (CTR). According to the CTR, the government promised to buy those shares at US$9.6 million (XAF5.2 billion). If successful, the purchase will make Cameroon the sole owner of Sonara, the commission explained. According to the document, Total Outre-Mer S.A currently owns 4% of Sonara while 96% is owned by the government…

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