The International Public Tender for selling a part of SATA Internacional-Azores Airlines S.A. was held by SATA Holding, which manages the airline's assets and holdings. The public act of opening proposals was conducted according to the Tender Specifications.
The jury, led by Professor Dr. Augusto Mateus, followed the prescribed procedure, and opened the proposals in person.
Two proposals were considered, presented by the following proponents:
- NEW TOUR AZORES SA and MS AVIATION GMBH, with an acquisition price of 6.5 euros per share.
- ATLANTIC CONSORTIUM with an acquisition price of 6.5 euros per share.
The two proposals coincided with the submitted price, therefore, in accordance with the procedures outlined in the Tender Specifications, the public act has been suspended to enable competitors to enhance the price per share. This is expected to occur within the next five working days following the public opening of proposals.
It is recalled that on March 24 of this year, SATA Holding publicly announced the launch of the international public tender, with the object of selling shares representing a minimum of 51% and a maximum of 85% of the share capital of SATA Internacional-Azores Airlines, S.A. This procedure for the sale of a shareholding in the share capital falls within the purview of the measures displayed in SATA Group’s Restructuring Plan, which was approved by the European Commission on June 7th.
Specifications were made available on the electronic platform https://www.acingov.pt and were also available for consultation on the services of SATA Holding, S.A.
The opening of proposals took place at a public event, which began at 1:00 p.m. (GMT-1) of July 31st, at the services of SATA Holding, S.A.