State assures future for airport handler even if share sale fails
The minister confirmed that "there is a sale process underway led by Montepio after a very important court decision that recognises the right to sell Pasogal's shares in Groundforce".
The Minister for Infrastructure and Housing, Pedro Nuno Santos, said on Tuesday that the state and TAP will ensure a solution for airport handler Groundforce, even if the process of selling the company’s shares, led by Montepio bank, fails.
In a regular hearing today at the Economy, Innovation, Public Works and Housing Commission, the minister confirmed that “there is a sale process underway led by Montepio after a very important court decision that recognises the right to sell Pasogal’s shares in Groundforce”.
“We are monitoring and we have the expectation that the sale process by whoever has the right to sell will be successfully concluded and that would mean the entry of a partner with the financial capacity to be able to start a life of stability,” he mentioned.
However, the minister noted, “if Montepio is unable to proceed with the sale, the state or TAP will find a solution”.
“We have been working on this for a while,” he said, noting that the government was waiting for the conclusion of this process.
The bank can thus go ahead with the sale of the ‘handling’ company, with Montepio, Eco says, having taken possession of Groundforce shares in the hands of Alfredo Casimiro through an extrajudicial execution for failure to pay a debt of seven million euros, but the businessman had filed an injunction to stop the bank’s decision.
Also according to the online newspaper, Montepio has hired Bison Bank to organise an auction of Groundforce shares held by businessman Alfredo Casimiro that are pledged, a 50.1% stake.
Groundforce is 50.1% owned by Pasogal and 49.9% by the TAP group, which in 2020 became 72.5% owned by the Portuguese state.
TAP said on Saturday that it has no overdue payments to Groundforce, after the ‘handling’ company accused the airline of having a debt of 12 million euros for services already provided.
