SÉRVULO advises TAP on the sale of its shareholding in SPdH to Menzies

NEWS AND EVENTS 14 May 2026

Sérvulo & Associados advised TAP – Transportes Aéreos Portugueses, S.A. on the disposal of its 49.9% shareholding in SPdH – Serviços Portugueses de Handling, S.A. to Menzies Aviation – Portugal – Serviços de Carga, Unipessoal, Lda., with the agreements executed on 28 April 2026. The completion of the transaction is subject to the fulfilment of the applicable conditions precedent.

The execution of the agreements marks a significant step towards the effective transfer of TAP’s shareholding in SPdH, enabling the completion of the divestment process and reinforcing the Company’s focus on its core aviation business, in line with the commitments undertaken under the European Commission’s Decision approving the TAP Group Restructuring Plan.

The SÉRVULO team was led by Pedro Silveira Borges (Partner, Corporate/M&A), Mafalda Ferreira Santos (Partner, Dispute Resolution), Francisco Boavida Salavessa (Partner, Finance) and Henrique Rodrigues da Silva (Partner, Public), with the support of the firm’s M&A team, namely Pedro Zincke dos Reis (Senior Associate, Corporate/M&A).