The Government of Portugal to acquire a 22.5% stake in TAP Air from David Neeleman for $62m.

Financials

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Transaction Value£49m

Consideration TypeCash

Capital Owned50%

Capital Bid For23%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

vendor

David Neeleman

bidder

Government Of Portugal

target

Tap Sgps

Sources

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Tags

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Private

airline and charter services

Pending

Portugal

Airlines

Majority

Friendly

airline operation

Single Bidder

airline industry

Aerospace

Acquisition

Synopsis

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The Government of Portugal agreed to acquire a 22.5% stake in TAP Air, the flag carrier airline of Portugal from minority shareholder David Neeleman for $62m. "The state will now play a key role in TAP," João Leão, Portugal Finance Minister.