My Account Menu

CAPA Login


Register to trial CAPA Membership!

Galeão Airport and Belo Horizonte Airport sell for combined USD9.1 billion

25-Nov-2013 3:02 PM

Brazil's ANAC stated (22-Nov-2013) Rio de Janeiro Galeão International Airport and Belo Horizonte Tancredo Neves International Airport were sold for a combined BRL20.8 billion (USD9.1 billion), 253% over the government's original price of BRL5.9 billion (USD2.5 billion), at a private auction on 22-Nov-2013. The Galeão Airport contract was awarded to Odebrecht TransPort (OTP), a consortium with Changi Airports International (CAI), for BRL19 billion (USD8.3 billion), 294% higher than the minimum bid of BRL4.8 billion (USD2.1 billion). Belo Horizonte Airport was won by Aerobrasil Consortium, consisting of CCR, Zurich Airport and Munich Airport, for BRL1.8 billion (USD788.7 million) which was 66% higher than the minimum bid of BRL1.1 billion (USD481.8 million). The private consortium will hold 51% of Belo Horizonte Airport whereas 49% remain with the state-owned and former operator Infraero. The funds raised by way of fixed contribution will be collected for the National Fund for Civil Aviation (FNAC) in annual installments adjusted by the IPCA, in accordance with the concession period of each airport, which is 30 years for Belo Horizonte Airport and 25 years for Galeão Airport. The auction, operated by BM & FBOVESPA, lasted two hours and involved five consortia formed by 14 companies, including domestic and foreign companies. The results of this auction will be approved by the ANAC after which there will be a 120 day transition period following the signing of the contract in Mar-2014. During this time Infraero will continue operating the airports after which they will be jointly managed by Infraero and the consortiums for a three month period, the end of which all operations will be assumed by the new concessionaires in 3Q2014. [more - original PR - ANAC - Portuguese] [more - original PR - Changi Airport] [more - original PR - Zurich Airport]