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AVH - Avianca Holdings SA News Story

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Last Trade - 08/05/20

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.52bn
Position in Universe th / 6856

Portugal picks American-Brazilian investor in sale of airline TAP

Thu 11th June, 2015 2:05pm
LISBON, June 11 (Reuters) - Portugal's government picked on 
Thursday a consortium led by American-Brazilian investor David 
Neeleman in the privatisation of airline TAP, ending a drawn-out 
sales process that has faced strong opposition from many unions. 
    "The winning consortium is Gateway," a source with knowledge 
of the sales process told Reuters. 
    Gateway is led by Neeleman and Portuguese bus company owner 
Humberto Pedrosa. Neeleman is the founder of U.S. airline 
JetBlue  JBLU.O  and the CEO of Azul Brazilian airlines. 
    Brazilian-Colombian investor German Efromovich, who controls 
Latin America's Avianca  AVT_p.CN , had also presented a bid for 
Portugal's flag carrier.  
    The government is selling a 61 percent controlling stake in 
TAP.     
    TAP is especially attractive to Brazilian investors because 
of the large amount of slots it holds on flights between 
Portugal and Brazil. Because of that many Europeans transit 
through Portugal to fly to Brazil. 
  
 
 (Reporting By Sergio Goncalves, writing by Axel Bugge) 
 ((axel.bugge@thomsonreuters.com; +351-213-509-201; Reuters 
Messaging: axel.bugge.thomsonreuters.com@reuters.net)) 
 
Keywords: PORTUGAL TAP/
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