Government Announces Today Privatization Winner but Sale Can Be Completed only in 2028
6 Articles
6 Articles
Government chooses between Air France-KLM and Lufthansa. In issue is the sale of up to 49.9% of the company's capital, of which 44.9% are destined for an investor and up to 5% are reserved for workers.
With the expectation of an offer of more than EUR 1 billion on the table, the government will announce in a few hours to the country who will be the new shareholder of the TAP. In a taco fight between two European giants, Air France/KLM and Lufthansa will pay 100 times more than Neeleman and Pedrosa paid in the privatisation of 2015
The government announces today the winner of the partial privatisation of TAP, choosing between Air France-KLM and Lufthansa, in a decision that will be followed by a final phase of negotiation and regulatory authorizations. In this case is the sale of up to 49.9% of the capital of the Portuguese airline, of which 44.9% are destined for a reference investor and up to 5% are reserved for workers, maintaining the state the majority of the capital.
In addition to the price, investment plans, fleet development, air connectivity, betting in areas such as maintenance and sustainable fuels and compliance with labour commitments are evaluated.
As far as SIC was concerned, Lufthansa should be the one chosen. The German group's financial capacity will have been decisive in the decision. The final proposals have not been disclosed, but it is known that the two groups will have increased the proposals to more than EUR 1 billion.
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