HNA arm to get majority stake in Brazilian airport

HNA Infrastructure Co Ltd, a subsidiary of HNA Group, a global Fortune 500 company focused on tourism, logistics and financial services, has signed an agreement to acquire a 60 percent stake in Rio de Janeiro Aeroportos SA, the controlling shareholder of Aeroporto International Antonio Carlos Jobim-Galeao (GIG Airport) from Odebrecht SA.

HNA Infrastructure will acquire the equity stake for approximately 60.1 million reais ($18 million) and will pay an additional 1.01 billion reais to GIG Airport in concession fees, for a total deal value of around 1.07 billion reais, according to Guanghui Ma, CIO of HNA Infrastructure.

Ma said HNA Infrastructure has agreed to sell 9 percent of its stake in RJA for 9 million reais to Changi Airports International, with HNA Infrastructure and CAI holding 51 percent and 49 percent stakes in RJA, respectively.