The approval of the sale of the TAP Gateway consortium will be evaluated not only by the Portuguese Competition Authority but also by Spanish and German, found the business from an official source. The Economic Daily reveals today that the European general management of the competition considered that the deal does not have European dimension and therefore needs to be analyzed at the level of Member States.
sale of the TAP will also be examined by the Spanish and German competition authorities, as well as Portuguese, knows the business. The Economic Daily reveals this Monday, August 24, that Brussels considered that the business had no dimension to be assessed on its own with regard to the effects on competition.
The reasons why the sale of TAP has to be analyzed also in Germany and Spain, and Portugal, are related to turnover and weight in air transport.
This operation has received approval from the Administrative Council for Economic Defense (CADE), the Brazilian competition authority.
The investment of American businessman David Neeleman, who won with the Portuguese Humberto Pedrosa purchasing 61% of TAP, the Portuguese airline made could reach 800 million euros, said the head during signing of the purchase agreement in June.
Under the proposal that the Gateway consortium presented the investment would be in the order of 600 million, of which 345 million in permanent capital and another 250 million in funding for the purchase of new aircraft.
According to Neeleman, and bring capital the consortium will buy 53 new aircraft at least. But that number “may be much higher,” he said.
(updated News at 10h49 with more information)
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