Chinese group HNA becomes shareholder of Brazilian Rio de Janeiro airport manager

27 September 2017

Chinese group HNA has received authorisation to become a shareholder in Rio de Janeiro Aeroportos, the management company of the António Carlos Jobim International Airport, popularly known as Galeão Airport, following a decision by the National Civil Aviation Agency (ANAC).

ANAC on Tuesday approved the request to change the shareholder structure of the management company after the Chinese group acquired the stake held by Brazilian group Odebrecht through its subsidiary HNA Infraestructure Investment Group.

The 51% share held by Rio de Janeiro Aeroportos was divided into 60% for Odebrecht Transport, the logistics arm of Brazilian group Odebrecht and 40% for Changi Airports International, the operator of Singapore airport, with the remaining 49% in the hands of state-owned Brazilian airport infrastructure company, Infraero, set up in 1972 to operate the country’s main commercial airports.

Last August, the Brazilian Competition Authority (CADE), had already issued a positive statement on the entry of the Chinese group into the airport’s management company, with only ANAC’s authorisation remaining in order for the deal to be concluded.

The Brazilian press reported that the agreement to acquire the stake in Odebrecht Transport provided that the HNA group sold a 9% stake to Changi Airports International, leaving the shareholder structure of Rio de Janeiro Airports as 51% for the HNA group and the remaining 49% for the Singapore group.

In August 2016 the HNA group acquired a 23.7% stake in Brazilian airline Azul, for which it paid US$450 million, becoming the main shareholder. (macauhub)