Bloomberg
• Henrique Almeida, Sonja Wind
Portugal’s Council of Ministers selected Lufthansa Group to acquire a minority stake in TAP Air Portugal, ending a privatization contest with Air France-KLM. Reports put the proposed share at 44.9% and the bid at €1.2 billion; the government said Lufthansa’s proposal was financially stronger.
M&A
Latest source-backed stories
Komiaviatrans, a Russian airline, has been put up for sale at a stated price of $65.5 million. The available report does not identify a prospective buyer or provide further details on the sale process, the airline’s assets or its operations.
High activity
Portugal’s Council of Ministers selected Lufthansa Group to acquire a minority stake in TAP Air Portugal, ending a privatization contest with Air France-KLM. Reports put the proposed share at 44.9% and the bid at €1.2 billion; the government said Lufthansa’s proposal was financially stronger.
Portugal is expected to name a buyer for a 44.9% interest in TAP Air Portugal, with Lufthansa reportedly ahead of Air France-KLM. SIC reports Lufthansa’s all-cash offer outpaces its rival’s bid; the Portuguese government’s decision was expected Wednesday.
High activity
CSG has acquired a 9.5% stake in MDA Space, marking an expansion of its position in the space industry. The available report does not specify the transaction’s value, timing or strategic terms, leaving the scale of CSG’s intended involvement beyond its equity holding unclear.
High activity
Czechoslovak Group has acquired a 9.5% equity position in Canadian satellite maker MDA Space, making the Czech defense and industrial conglomerate its largest shareholder at the time of the announcement. CSG says the investment marks its entry into space and adds to its defense and aerospace businesses.
A Kenyan court has rejected Fly Angola’s bid to unwind its deal with Avmax. The available report provides no further details on the court’s reasoning, the transaction’s terms or the operational and financial consequences for either party.
Jin Air has secured approval in Vietnam for a merger involving a South Korean low-cost carrier. The clearance is a regulatory milestone for the transaction, though the available report does not specify the merger’s other parties, terms or remaining approvals.
Create a free account to see more recent M&A stories and keep bookmarks in one place.
