Portugal’s government selects Lufthansa to buy part of TAP Air Portugal in a bid worth about €1.2 billion. The deal involves Lufthansa taking up to a 49.9% stake, with multiple outlets specifying a final purchase of 44.9%. Officials describe the transaction as part of the first phase of TAP’s privatisation process.
Several outlets report that Lufthansa’s offer is chosen over the rival bid from Air France-KLM. Quartz and other sources say Lufthansa’s price implies a valuation of TAP at roughly €2.55 billion. Skift frames the move as giving Lufthansa a strategic gateway to Brazil, while noting that Portugal retains control for now. ABC News and The Independent also report the deal value in dollars, reflecting different currency conversions.
Euronews adds that the transaction still requires regulatory approval, indicating it is not yet final. Other reports emphasize the government’s announcement and the competitive bidding outcome between Lufthansa and Air France-KLM.
