ANA potential bidders submit non-binding offers, Brisa drops out
ANA Aeroportos de Portugal potential bidders reportedly submitted their non-binding offers for the Portuguese airport operator, with CCR of Brazil, Odinsa of Colombia and Corporación América of Argentina reportedly among the parties moving forward in the process, according to a report by Jornal de Negocios. Odinsa is reportedly the lead in a consortium with Portuguese industrial conglomerate Mota-Engil, according to a Diario Economico report. Portuguese highway management company Brisa reportedly decided not to proceed, with an unnamed official stating, "Current market conditions imply that in order to gain a controlling position in ANA, even jointly [with a partner], it was necessary to involve significantly more capital, which isn't compatible with [our current situation]." Meanwhile, ANA's final offer submission deadline will reportedly be in 2012, with the expected takeover date to be in 2013, according to a Publico report.