Deals
Brazil Raises $14 Billion in Airport Auction for World Cup
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Brazil raised 24.5 billion reais ($14 billion) through the sale of licenses to operate three of the country’s busiest airports in an auction today aimed at accelerating investments ahead of the 2014 World Cup.
A consortium led by pension funds belonging to employees of state-run companies and including a South African airport operator won the rights to operate Sao Paulo’s international hub after bidding 16.2 billion reais, or almost five times the minimum. Groups led by Sao Paulo-based construction companies Engevix Engenharia SA and TPI - Triunfo Participacoes e Investimentos gained control of airports in Brasilia and Viracopos in Campinas respectively.