TAP Portugal investor approved

admin
By admin October 9, 2015 17:45

TAP Portugal investor approved

The Portuguese anti-trust regulator Autoridade da Concorrência (AdC) has approved the Atlantic Gateway consortium, a joint venture between David Neeleman and Barranquiro Group to, to acquire a 61% stake in TAP Portugal.

“AdC decided to clear the merger as it considered that the notified transaction would not create significant impediments to effective competition on the identified relevant markets, since none of the acquiring parties are active on the same air routes currently operated by TAP, nor was the risk of elimination of potential competition on the routes to Brazil identified,” AdC said in a statement.

The deal now needs to be approved by the Portuguese civil aviation authority ANAC.

admin
By admin October 9, 2015 17:45