PPVRA From Brazil, joined Nov 2004, 8769 posts, RR: 42 Posted (8 years 9 months 1 week 5 days 23 hours ago) and read 1731 times:
LISBON, March 14 (Reuters) - EuroAtlantic Airways has offered to buy 20 percent of Brazilian carrier Varig , the group said on Monday.
Euroatlantic, whose main shareholder is Portuguese investor Tomaz Metello, delivered the proposal to the Brazilian government, the state development bank BNDES and to Varig.
EuroAtlantic Airways said in a statement it had an "excellent relationship" with Varig. As part of a consortium with Varig euroAtlantic has two Boeing 767-300ER airliners and the group could increase the number shortly, it said.
The euroAtlantic statement gave no details about the proposal.
PPVRA From Brazil, joined Nov 2004, 8769 posts, RR: 42 Reply 1, posted (8 years 9 months 1 week 3 days 22 hours ago) and read 1662 times:
Another Porutguese group interested in a 20% stake in Varig:
Espirito Santo in talks to buy up to 20 pct in Varig - report
LISBON (AFX) - Portuguese banking and insurance company Grupo Espirito Santo is in talks to buy a stake of up to 20 pct in Brazilian airline Varig SA, Jornal de Negocios reported, citing a GES spokesman in Brazil.
A holding of 20 pct is the maximum permitted by Brazilian law for a foreign company to hold in a domestic airline, the report said.