Portugal gets improved offers for TAP airline from both bidders
LISBON, June 5 (Reuters) - The Portuguese government on Friday received improved offers for flag carrier TAP from both bidding consortia involving Brazil-based aviation tycoons vying for the indebted state-owned airline, Transport Secretary Sergio Monteiro said.
"The privatisation process remains competitive... We have two improved offers, which is a good sign in principle," he told reporters, adding that the state property holding company Parpublica will now have five days to analyse the offers. He would not comment on what the offers were.
One consortium is comprised by a holding company of American-Brazilian investor David Neeleman and Portuguese bus company owner Humberto Pedrosa. The other one is SAGEF, led by Brazilian-Colombian investor German Efromovich.
Neeleman is the founder of U.S. airline JetBlue and the CEO of Azul Brazilian Airlines.
Efromovich, who controls Latin America's Avianca via his holding Synergy, had made the only bid for TAP in the previous failed attempt to sell it in 2012. His offer was at the time rejected because of a problem with financial guarantees.
The government set no deadline for the end of the sale process, but it has said that it wants to sell the 61 percent controlling stake in TAP by the end of June. (Reporting By Andrei Khalip)
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