HNA Group subsidiary buys US$19-mln share in Rio de Janeiro’s biggest airport

HNA Infrastructure Co., Ltd. has bought a 30-percent stake in the Rio de Janeiro’s international airport from Brazilian engineering company Odebrecht SA, the Reuters news agency reports.

The US$19-million transaction for the Antônio Carlos Jobim International Airport must be approved by the Administrative Council for Economic Defence, Brazil’s competition watchdog, and the aviation industry regulator Agência Nacional de Aviação Civil.

The subsidiary of the HNA Group Co., Ltd. has negotiated the purchase since April.

Before last week’s transaction, Odebrecht and Singaporean airport operator Changi Airport Group Pte. Ltd. controlled 51 percent of Brazil’s second busiest airport. The civil aviation authority is the minority shareholder.