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Today is the last day for those interested in submitting proposals to the Portuguese government for the purchase of troubled carrier TAP. Sinergy owned by Brazilian businessman German Efromovich should be the only proposal submitted, according to the site Portugal Digital.

According to the Portuguese media, Efromovich made a deal with the Portuguese government, where a committee will be created to follow the strategic plan and monitor the carrier after the privatization is completed to guarantee the new stock holders follow the strategic plan and that country’s interest, including maintaing the airline hub in Lisbon.

The proposal, according to the local media, is around 500 million Euros, and Sinergy would control 95% of the shares, and the remaining 5% would stay with the employees.