Brazil airport operator eyes 2016 IPO for Sao Paulo and Rio hubs
Wednesday, 30 March 2016 - 10:10
Brazil's state airport operator, Infraero, plans an initial public share offering this year for a subsidiary running busy domestic hubs in Sao Paulo and Rio de Janeiro, the operator's chief executive officer said on Wednesday.
Infraero CEO Gustavo do Vale said he would hire state lender Banco do Brasil SA to model an IPO for the subsidiary and gauge market conditions for the best timing.
"There will be a holding company with airport assets including (Sao Paulo's) Congonhas and (Rio's) Santos Dumont," Vale told journalists in the capital Brasilia. "We plan to list that company as soon as possible, preferably this year."
President Dilma Rousseff has made repeated efforts to court private investment for Brazil's fragile transportation infrastructure, including a series of airport concessions in the run-up to the 2014 World Cup.
Those measures granted private engineering consortia the right to co-operate international airports in several host cities in exchange for building and overhauling terminals. (Reporting by Leonardo Goy; Writing by Brad Haynes; Editing by Alan Crosby)