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BRAZIL. Corporación América is to acquire the shares of its Inframérica consortium partner Engevix in the management contracts for Brasilia International Airport and Natal São Gonçalo do Amarante Airport.
Subject to approval by Brazil’s National Civil Aviation Agency (ANAC) and Council for Economic Defence (CADE), the deal will see the Buenos Aires-based corporation hold 100% of the concession for Natal and 51% of that for Brasilia (where state airport authority Infraero holds the remaining 49% share).
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Details of the proposed deal are subject to confidentiality.
Inframérica was a 50-50 joint venture between Corporación América and Engevix subsidiary Infravix Empreendimentos.
The move will cement Corporación América’s position in Brazil’s airport sector, where further airport privatisations are now in the offing.
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Engevix has been hit by links to the massive Petrobras corruption scandal in Brazil, and has sold off other non-core assets in recent months.
Inframérica won the concession to construct and manage the new airport for Natal in August 2011, then secured the 25-year concession to manage Brasilia’s Juscelino Kubitschek Airport in February 2012.
Following a major renovation and extension programme at Brasilia International, the consortium reported excellent sales in 2014.
At Natal Airport also, commercial results to date have exceeded expectations.
A full report on Brazil’s travel retail market will be published in The Moodie Report Latin America Special Edition in June.
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Inframérica’s transformation of Brasilia’s terminal has brought a tripling of commercial revenues since 2013 |
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