Portugal Selects Lufthansa Bid for 44.9% Stake in TAP Air Portugal
Portugal’s government selected Lufthansa Group’s offer to acquire an initial minority stake in TAP Air Portugal. The bid values a 44.9% stake at EUR 1.03 billion; payment could reach EUR 1.2 billion for 49.9%. The higher amount reflects up to 5% initially offered to employees and a ticking fee. Portugal also initiated