The sell-off of Portugal's aviation assets are likely to lure investors, after the successful sale of stakes in two major firms which defied the impact of the debt crisis, an advisor to the process said.
Privatisations make part of the terms of a EUR€78 billion (USD$102 billion) EU/IMF bailout programme for Portugal and, unlike Greece, the Iberian country has managed to crank up the process quickly and sell some prized assets.
Jorge Cardoso, CEO of Caixa Banco de Investimento, which advised the government on the sale of stakes in power utility Energias de Portugal and power grid operator REN, said airport infrastructure management firm ANA and airline TAP were likely to easily find buyers.
"We have the conditions to attract sizeable international interest for some of the assets like TAP and ANA, especially ANA," Cardoso told reporters. "There is quite a bit if interest in ANA and TAP has a lot of interesting routes."
He acknowledged TAP's sale was likely to be more complicated than that of ANA because an airline is a "more complex asset, but with a well-managed process one can find buyers."
The remaining assets to be sold are "more domestic businesses, which are regulated and stable, making them attractive as well," he said, singling out CTT and CGD's insurance businesses.
