The Arbitration International Court under the auspices of the Arbitration Institute of the Netherlands, decided, the final sentence in favor of Sonangol following the dispute, initiated in 2019 by Exem Energy BV, vehicle company with no other assets based abroad, owned by Isabel dos Santos, who intended to legitimize an alleged transfer of shares in Esperaza Holdings BV from Sonangol to that company.
The litigation concerned the 40% stake held by Exem allegedly transferred by Sonangol EP in Esperaza Holdings BV, the vehicle through which the national oil company made, in 2006, a large and successful investment in the Portuguese oil and gas company Galp SA.