Air France-KLM and Lufthansa on Wednesday submitted binding offers to buy a 44.5% stake in TAP Air Portugal, Parpública, which manages the state's shareholdings, said in a statement quoted by Eco (source in Portuguese).
"As part of the third stage of the process for the reference sale of 44.9% of TAP's share capital, PARPÚBLICA, SGPS, S.A. announces that it has received two binding proposals, submitted by the interested parties invited to do so after the conclusion of the second stage of the said transaction, Air France-KLM S.A. and Deutsche Lufthansa AG," the Parpública statement says.
Parpública now has 30 days to analyse the documentation and submit a report to the Portuguese government, and may request further clarifications from the airlines. In that case, the deadline is suspended until the requested information is provided.
According to Eco, the binding proposals already specify the amount to be paid for the 44.5% stake in the airline, as well as an industrial and strategic plan to guarantee the company's sustainability and future.
Once it has examined Parpública's report, the government may decide to invite one or both of the bidders that submitted binding proposals to present a new final offer.
