Lufthansa close to winning 44.9% stake in TAP Air Portugal
Written by AI from 5 reports listed below. Not checked by a person before publication. How we use AI
Lufthansa Group’s all‑cash offer for a 44.9% share of TAP Air Portugal is seen as the preferred bid, with the Portuguese government set to decide after an extraordinary cabinet meeting.
Bid details
Lufthansa offered to purchase 44.9% of TAP Air Portugal entirely in cash, a proposal considered more advantageous than Air France‑KLM’s mix of cash and equity. The cash offer exceeds €1 billion, implying a TAP valuation of more than €2 billion to €2.2 billion.
Ownership structure
Under the planned partial privatization, Lufthansa would hold 44.9% of TAP, the Portuguese state would retain a majority with 50.1%, and 5% of the shares would be allocated preferentially to TAP employees.
Approval process
After the preferred bidder is selected, a final round of negotiations will be followed by approval from the European Commission’s Directorate‑General for Competition, a process that can take between 18 and 24 months.
Expected impact
Lufthansa expects the acquisition to boost its presence in Brazil and Latin America and to create synergies with ITA Airways through complementary hubs in Lisbon and Rome. The impact on public accounts is projected around 2028.
Analysed 5 reports from 4 publishers
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