Brazil’s competition authority has approved the acquisition, without restrictions, of a 61% stake in TAP-Air Portugal by the Atlantic Gateway consortium.
The sale of TAP is still dependent on approval from the Portuguese Civil Aviation Authority (CAA). But it will have to rule on the legality of the acquisition under European Union (EU) rules, which stipulate that an airline cannot be acquired by non-European citizens.
TAP acquisition gets Brazil’s nod of approval
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