Commerzbank formally rejected UniCredit’s takeover bid valued at €39 billion, claiming it undervalues the bank by 5.6% and carries significant risks. The board recommended shareholders reject the stock exchange proposal, citing vague integration plans and unrealistic synergy estimates. Commerzbank is promoting its independent ‘Momentum 2030’ strategy instead.
Sérvulo & Associados advised TAP on the sale of its 49.9% stake in SPdH (Portuguese Handling Services) to Menzies Aviation Portugal. The transaction was contracted on April 28, 2026, subject to fulfillment of applicable conditions. This divestment allows TAP to focus on its core aviation business in compliance with the European Commission’s approval of TAP Group’s restructuring plan.
Factorial, an AI-powered enterprise operations platform, has acquired YepCode, a developer-focused integrations and automation platform, to enhance its ability to deliver intelligent AI-based integrations in complex enterprise software environments. The acquisition also marks the opening of Factorial’s new engineering office.
Visabeira Indústria, in partnership with I’M (brothers Carlos and Jorge Martins) and Mota-Engil, launched a mandatory public acquisition offer for Martifer. The offer period runs from May 18 to June 3, 2026, at 2.057 euros per share. The three parties together control 85.59% of Martifer and are seeking to acquire the remaining 14.41% of shares. If successful, they intend to delist the company from the stock exchange.
LVMH agreed to sell Marc Jacobs to a 50/50 joint venture between WHP Global and G III Apparel Group for 850 million dollars. The transaction will be completed before the end of 2026. Marc Jacobs will continue as Creative Director. This marks the end of nearly three decades of LVMH ownership, which began in 1997.
Danish peer-to-peer car-sharing platform GoMore has acquired Getaround Europe, creating Europe’s largest P2P car-sharing platform with operations in 11 countries across Northern and Western Europe. The combined company has 5 million users, 70,000 active shared cars, and 1.5 million annual rentals. The acquisition is backed by prominent Danish investors and financing from EIFO and Nordea.
Portuguese investor António Moreira, through UK-based ALM Investment Holding, has made a proposal to acquire 85% of Azores Airlines for 17 million euros with a commitment to invest up to 500 million euros following debt restructuring. The privatization process has attracted 6-8 interested parties including Icelandair and Binter.