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Portugal has selected Lufthansa for a minority stake in TAP. The German group will pay €1.2 billion for a holding reported by Bloomberg to be up to 44.9 per cent, while employees will receive a further 5 per cent of shares. [1]
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Portugal has chosen Lufthansa to acquire a minority stake in TAP, Prime Minister Luís Montenegro announced at a press conference, according to ANP/Bloomberg. Air France-KLM had also bid for a stake in the Portuguese airline. [1]
Lufthansa will pay €1.2 billion. Bloomberg reported that its holding could be up to 44.9 per cent; a further 5 per cent of TAP’s shares will go to employees. [1]
Both Lufthansa and Air France-KLM submitted improved final bids last month. TAP, based in Lisbon, was described as an attractive addition because of its links to South America. The airline was nationalised during the Covid crisis. [1]
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