Chinese group sells their stake in TAP for about 49 million

More than half of this indirect stake in TAP was sold to Global Aviation Ventures LLC, a US venture capital fund specializing in the aviation industry.

The Chinese conglomerate HNA announced on Friday, in a statement to the Shanghai stock exchange, the sale of the 9% stake it held in TAP through Atlantic Gateway for 55 million US dollars (48.6 million euros).

More than half of this indirect stake in TAP was sold to Global Aviation Ventures LLC, an American venture capital fund specialized in the aviation industry, for 30 million dollars. The remainder passed to the hands of the Brazilian air carrier Azul SA in exchange for 25 million dollars, according to a statement sent to the Chinese stock exchange.

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