Portugal’s government is considering selling a stake of at least 49% of TAP SA in its latest attempt to privatize the state-owned airline, Bloomberg News reported. The privatization process is due to start in March and may be concluded at the end of this year or in 2026, said the person, who asked not to be identified discussing information that isn’t public. There are about 12 firms interested in TAP. Europe’s largest full-service airlines — Air France-KLM, Deutsche Lufthansa AG and British Airways owner IAG SA — have all gone public with their interest in TAP.
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Portugal
Ireland-based clean hydrogen solutions developer Fusion Fuel Green Plc has filed for insolvency for its Portuguese subsidiary after a USD-33.5-million (EUR 31.6m) funding deal with investor Hydrogenial SA has failed to complete, RenewablesNow.com reported. As advised by the insolvency counsel after paperwork submission, Fusion Fuel has initiated a claim in Portugal against the investment firm and its principal, Norbert Bindner, for damages incurred due to Hydrogenial’s breach of their agreement, a press statement says.
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Alternative asset manager Balbec Capital Management has bought a portfolio worth over €4 billion ($4.4 billion) of soured Portuguese loans from Luxembourg-based LX Partners, according to a statement seen by Bloomberg News. The portfolio has more than 300,000 restructured and non-performing loans, and its purchase is one of the largest such loan transactions in recent years, Balbec said. It’s one of the biggest portfolio purchases of non-performing loans for the firm since it was founded in 2010.
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