Azul sells participation in TAP for $12.2 mm

The airline Azul reported that it sold its indirect 6% stake in Portuguese airline TAP to the Portuguese government. The closed value was R$65 million ($12.2 mm). In the deal, Azul gave up the right to convert the senior bonds held by the company in the amount of €90 million ($102 mm), due in 2026.

Source: UOL Economia