This joint proposal brings together businessmen Carlos Tavares, Tiago Raiano, Paulo Pereira, and Nuno Pereira under a single structure to streamline negotiations and present a unified approach to the acquisition.

The privatisation follows a long-standing process, including the 2024 cancellation of an earlier tender, a European Commission-approved €453 million state aid package for restructuring, and government requests to extend the deadline for the sale until 31 December 2026.