The sale was made within the scope of the restructuring plan agreed with the European Commission. TAP bought the 51% stake for almost 11.7 million euros and sold it nine months later for 9.56 million.
A TAP Air Portugal sold its 51% stake in Cateringpor for a lower amount than what he had paid just nine months earlier. According to , the operation is part of the effort to complete the restructuring plan agreed with Brussels.
According to the 2025 report and accounts, TAP acquired this stake in April of the same year for 11.685 million euros to the former holding company TAP SGPS. However, the base price defined in the auction launched in January for the sale was R$9.56 million, that is, around 2.1 million below the acquisition value.
The only interested party was Gate Gourmet, which already owned the remaining 49% of Cateringpor. The sale to the Swiss group was recently concluded, but the final value of the transaction was not disclosed by the Ministry of Infrastructure.
This divestment is considered essential for TAP to achieve fulfill commitments made with the European Commission under the restructuring plan. The delay in the operation led the company to ask for an extension of the deadline, and Brussels granted another six months, but demanded the return of 24.99 million euros in state aid by the end of June.
At the same time, TAP continues to negotiate the sale of its 49.9% stake in SPdH to partner Menzies Aviation, which holds the majority of the capital. The operation should be carried out at market prices, based on independent assessments, but has not yet been completed due to obstacles related to the public tender for ground handling services at national airports.
This contest, launched by ANAC, is at the center of a legal dispute after SPdH challenged the result that favored a competing consortium. The process is still under analysis, delaying the completion of the sale.
