Lufthansa wins right to buy 44.9% of TAP Air Portugal
Germany's Lufthansa Group on Wednesday obtained the right to acquire a 44.9% stake in Portugal's national airline TAP Air Portugal.
The Lufthansa Group, the parent of Germany's national airline, on Wednesday obtained the right to acquire a 44.9% stake in TAP Air Portugal, Portugal's national carrier. The move would make one of Europe's major airline groups a significant shareholder in the Portuguese airline, though without a majority.
The source report states that the stake Lufthansa has gained the right to buy is just under half of TAP Air Portugal's shares. Other details of the deal, such as the price, timeline or conditions, were not given.
TAP Air Portugal is the national airline of Portugal, while Lufthansa Group is the group built around Germany's national carrier.
