Singapore's Changi, Partner Buy Rio De Janeiro Airport for $8.3B

Manila Bulletin, November 28, 2013 | Go to article overview

Singapore's Changi, Partner Buy Rio De Janeiro Airport for $8.3B


[caption id="attachment_52745" align="alignright" width="300"] GALEAO AIRPORT IN RIO DE JANEIRO, BRAZIL (Bloomberg) Passengers wait at tables in the lobby area of the Galeao airport in Rio de Janeiro, Brazil, on Friday, Nov. 22, 2013. A unit of Singapores Changi Airport Group and Odebrecht SA will acquire Galeao airport in Rio de Janeiro for almost four times the minimum bid to run Brazils second-busiest air hub for 25 years.[/caption] A unit of Singapores Changi Airport Group and Odebrecht SA will acquire Galeao airport in Rio de Janeiro for almost four times the minimum bid to run Brazils second-busiest air hub for 25 years. Changi Airports International and the Brazilian construction and engineering company offered to pay 19 billion reais ($8.3 billion) for Galeao, which will host visitors for the soccer World Cup next year and the 2016 Olympic Games. This compares with the minimum required bid of 4.83 billion reais. The contract is expected to be signed in March, Changi said in an e-mailed statement yesterday. The airport auction was part of President Dilma Rousseffs 212 billion-reais plan to modernize infrastructure and shore up investor confidence as growth in Latin Americas largest economy slows. The government is under pressure to complete the projects as the country prepares to welcome a projected 600,000 international visitors for the World Cup in June. …

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Singapore's Changi, Partner Buy Rio De Janeiro Airport for $8.3B
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