(Adds comment from Corporación América)
SAO PAULO May 10 Argentina's Corporación
América SA will take bids for minority stakes in both its
Brazilian airports by the end of May as it seeks funds to expand
in the country, newspaper Valor Econômico said on Wednesday.
Corporación América confirmed in an emailed statement that
it was looking for "new partners to consolidate its growth in
the country in the short and long term."
According to the report in Valor, the company has hired Itaú
Unibanco Holding SA's investment banking unit to
explore a sale of up to 49 percent of stakes held by Inframérica
Participações SA in each of the international airports serving
Brasília and Natal.
Valor did not specify how it obtained the information about
the stake sale plans.
Corporación América said it intends to continue expanding in
Brazil, making additional investments in the two airports and
participating in future opportunities presented by the
government. Corporación América said it has not reached a final
deal and did not comment on the terms of potential partnerships.
The plans underscore increased appetite for Brazilian
airports after a successful auction earlier this year kicked off
President Michel Temer's ambitious privatization program. The
government has said it could sell off operating licenses for at
least 10 more airports as soon as next year.
(Writing by Bruno Federowski; Editing by Lisa Von Ahn and