Private equity news portugal Private equity news europe Private Equity Eyes Stake in TAP and that would put Apollo at the front of the queue

Private Equity Eyes Stake in TAP…and that would put Apollo at the front of the queue

The Portuguese airline TAP is currently owned by the Portuguese government, but the government is looking to sell its stake with a with a decree to be published before October 2023.

Minister of Infrastructure João Galamba, signalled a delay in proceedings originally slated to start in July.

Speaking at a conference hosted by broadcaster CNN Portugal back in July 11, Galamba said the decree would be published “…surely before October” as cited by Portuguese tourism specialisrt Presstur.

Private Equity Eyes Stake in TAP and that would put Apollo at the front of the queue

The Portuguese airline is currently owned by the Portuguese government, but the government is looking to sell its stake and Apollo Global Management has a long history of investing in airlines.

TAP is a profitable company with a strong brand, and it is also the flag carrier of Portugal and it will be closely watched by other governments that are considering privatizing their airlines.

The sale of TAP is still in the early stages so we look forward to an update on the process.


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