Deals
Portugal Picks Neeleman’s $390 Million Offer for a Stake in TAP
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Portugal picked a 348 million-euro ($391 million) offer by David Neeleman, the founder of JetBlue Airways and Azul SA, to take control of state-owned airline TAP SGPS SA, outbidding rival Latin American airline investor German Efromovich.
Neeleman proposed to pay 10 million euros for 61 percent of TAP and inject at least 338 million euros into the debt-laden airline in partnership with Portuguese bus company Grupo Barraqueiro, Sergio Monteiro, Portugal’s secretary of state for transport, said at a press conference in Lisbon.