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Lufthansa to acquire 20% stake in Portugal’s TAP

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Lufthansa to acquire 20% stake in Portugal’s TAP

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German group to meet with Portuguese government members to buy minority stake in TAP Air Portugal

CEO of German Airlines LufthansaCarsten Spohr will meet with Portuguese authorities this Monday 2 to start negotiations on a possible acquisition of around 20% of the shares TAP Air Portugal, According to the agency, Portugal’s state-owned airline Bloomberg.

According to Italian newspaper sources, the talks are still at a preliminary stage but representatives of Portugal’s financial and infrastructure sectors will take part in the negotiations. Corriere della SeraLufthansa declined to comment when contacted.

The German airline received EU approval in July to acquire a 41% stake in ITA Airways, Alitalia (formerly Alitalia) and International Consolidated Airlines Group. Plans show that Lufthansa intends to initially acquire a 19.9% ​​stake in the Portuguese airline and that negotiations should not be completed before the first quarter of 2025. Estimates suggest that the operation could cost between 180 million euros and 200 million euros (about R$1.1 billion and R$1.2 billion).

Lufthansa and Air France KLM, There are two operators Who has publicly expressed interest in TAP operations?,after Portuguese Government Announces intention to sell its majority stake airline.

“In principle, the Lufthansa Group always wants to play an active role in market consolidation,” a spokesman said. “That is why we are interested in the planned sale of TAP Portugal. The Lufthansa Group and TAP will be able to complement each other very well, especially with TAP’s route network to and from South America.”

Lufthansa Group, which also includes Austrian Airlines, Brussels Airlines, Swiss and Eurowings, posted a net profit of 469 million euros in the second quarter – a 47 percent drop from the same period last year.

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