PLMJ advises Lufthansa on TAP privatisation

PLMJ team was led by Diogo Perestrelo, partner and co-head of the Corporate M&A practice

PLMJ advised Lufthansa on the privatisation of TAP, whereby the Portuguese state will sell a stake of up to 49.9% in TAP's share capital to the German airline. The agreement was signed this week by Lufthansa and the Portuguese State.

PLMJ provided advice covering all stages of the transaction, from the preparatory stages and submission of binding offers to negotiation of contracts and signing of the final documents. Completion of the transaction is now subject to a number of conditions being met, including notification to the European Commission and relevant competition authorities, and their non-objection.

The PLMJ team was led by Diogo Perestrelo, partner and co-head of the Corporate M&A practice, and included partner Alexander Ehlert and lawyers Ânia Cruz, Miguel Andias Loura, João Pereira Teixeira and Maria Leonor Mauritty, all from the same practice. The Public Law aspects of the transaction were handled by head partner Diogo Duarte de Campos, partner Carla F. Machado and lawyer Ana Margarida Batista. The EU and Competition Law team included head partner Ricardo Oliveira and included partner Rita Aleixo Gregório and lawyers Alexandra Dias Henriques and João Prata Rodrigues. The Employment and Labour aspects were handled by head partner Nuno Ferreira Morgado and lawyer Pedro Rosa.

The Real Estate and Tourism, Planning and Land Use, Tax, Environment, Dispute Resolution, Technology, Media and Telecommunications, Intellectual Property, Banking and Finance, and Insurance teams were also involved at various stages of the transaction.