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6 days ago
China's HNA buys Odebrecht stake in Rio Airport for $19 million
July 13, 2017 / 7:20 PM / 6 days ago

China's HNA buys Odebrecht stake in Rio Airport for $19 million

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Luggage is pictured in Rio de Janeiro's International airport, Brazil, July 13, 2017.Ricardo Moraes

SAO PAULO (Reuters) - The transport unit of Odebrecht SA, the Brazilian conglomerate at the heart of a global graft scandal, has concluded the sale of a stake in Rio de Janeiro international airport to China's HNA Infrastructure Co Ltd (0357.HK) for $19 million, the companies said on Thursday.

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The stake was the equivalent of 30 percent in the airport, Brazil's second busiest.

Reuters reported in April that HNA was in talks to buy the stake and Brazil's government confirmed the deal.

The deal is subject to approval by Brazil's antitrust watchdog CADE and aviation industry regulator ANAC.

Odebrecht has admitted to bribing officials in 12 countries as part of a $3.5 billion settlement with Brazilian, U.S. and Swiss authorities. Fallout from corruption probes involving the group is slowing down infrastructure development in Latin America, Moody's Investor Service noted in a report.

Reporting by Tatiana Bautzer; Editing by Richard Chang

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