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Order HerePortuguese anti-trust regulator Autoridade da Concorrência (AdC) has given the green light for theAtlantic Gateway consortium to acquire a 61% stake in TAP Portugal.
The clearance takes the Atlantic Gateway consortium, a joint venture (JV) between JetBlue Airways and Azul Brazilian Airlines founder David Neeleman and Portuguese bus company Barranquiro Group, a step closer to finalizing its acquisition of 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 competition body added that it was notified of the transaction on Aug. 20, after the European Commission considered it was “outside its jurisdiction” under European merger control rules.
A TAP Portugal spokeswoman said the deal now hangs on approval by Portuguese civil aviation authority ANAC. “TAP’s privatization process is expected to be completed soon, but I don’t know exactly when,” she told ATW.
TAP’s other two bidders were Avianca Holdings chairman German Efromovich and Portuguese investor/entrepreneur Miguel Pais do Amaral.
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Order HerePortuguese anti-trust regulator Autoridade da Concorrência (AdC) has given the green light for theAtlantic Gateway consortium to acquire a 61% stake in TAP Portugal.
The clearance takes the Atlantic Gateway consortium, a joint venture (JV) between JetBlue Airways and Azul Brazilian Airlines founder David Neeleman and Portuguese bus company Barranquiro Group, a step closer to finalizing its acquisition of 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 competition body added that it was notified of the transaction on Aug. 20, after the European Commission considered it was “outside its jurisdiction” under European merger control rules.
A TAP Portugal spokeswoman said the deal now hangs on approval by Portuguese civil aviation authority ANAC. “TAP’s privatization process is expected to be completed soon, but I don’t know exactly when,” she told ATW.
TAP’s other two bidders were Avianca Holdings chairman German Efromovich and Portuguese investor/entrepreneur Miguel Pais do Amaral.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HerePortuguese anti-trust regulator Autoridade da Concorrência (AdC) has given the green light for theAtlantic Gateway consortium to acquire a 61% stake in TAP Portugal.
The clearance takes the Atlantic Gateway consortium, a joint venture (JV) between JetBlue Airways and Azul Brazilian Airlines founder David Neeleman and Portuguese bus company Barranquiro Group, a step closer to finalizing its acquisition of 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 competition body added that it was notified of the transaction on Aug. 20, after the European Commission considered it was “outside its jurisdiction” under European merger control rules.
A TAP Portugal spokeswoman said the deal now hangs on approval by Portuguese civil aviation authority ANAC. “TAP’s privatization process is expected to be completed soon, but I don’t know exactly when,” she told ATW.
TAP’s other two bidders were Avianca Holdings chairman German Efromovich and Portuguese investor/entrepreneur Miguel Pais do Amaral.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.