Lufthansa in talks to acquire remaining 50.1% stake in TAP, says CFO
Portugal's government has selected Lufthansa to buy a stake of up to 49.9% in TAP Air Portugal for US$1.35 billion, beating rival Air France-KLM.
Lufthansa is in negotiations to acquire the remaining 50.1% stake in Portugal's national airline, TAP Air Portugal, according to the company's chief financial officer, Till Streichert. This potential move would solidify Europe's largest airline's presence in the country's aviation market. Streichert revealed that the Portuguese government may retain a 5% stake in the transaction, which could be finalized as early as the second half of 2028.
The deal, initially agreed upon for €1.2 billion, is seen as a pivotal step in the ongoing consolidation of Europe's airline industry, with Lufthansa CEO Carsten Spohr describing it as a perfect fit for the group. The acquisition, which follows a competitive bidding process that included Air France-KLM, is expected to generate €450 million in synergies.
Lufthansa's CEO also noted that the transaction is more straightforward for the EU to approve compared to Italy's ITA Airways, due to reduced overlapping business interests with Lufthansa.
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- Lufthansa in talks to acquire remaining 50.1% stake in TAP, says CFO freemalaysiatoday.com
