Chinese conglomerate HNA has completed a US$19 million purchase of Brazilian group Odebrecht’s stake in the RioGaleão consortium that manages Tom Jobim International Airport in Rio de Janeiro, the two entities said in a statement released on Thursday.

The RioGaleão consortium controls 51% of the airport’s capital, 31% of Odebrecht Transport, the logistics arm of the Brazilian group and 20% of Changi Airports International, the operator of Singapore airport, with the remaining 49% held by state-owned Empresa Brasileira de Infra-estrutura Aeroportuaria (Infraero), created in 1972 to operate the main commercial airports of the country.

This deal, which was announced last April, is still dependent on the approval of Brazilian regulatory agencies, such as the Administrative Council for Economic Defense (CADE) and the National Civil Aviation Agency (ANAC).

The HNA Group is a conglomerate based in Hainan Island which operates in the aviation, industrial, tourism, logistics and financial sector and became shareholder of airline Azul – Linhas Aéreas Brasileiras after paying 1.7 billion reais for a 23.7% stake. (macauhub)