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HNA Group invests $320m in Brazilian airport

by Jody Barhanovich

HNA Infrastructure, the infrastructure division of HNA Group, a Chinese business conglomerate, has entered the Latin American market with the acquisition of a controlling stake in Rio de Janeiro’s largest airport, Aeroporto Internacional Antônio Carlos Jobim – Galeão, for $320 million. This is HNA Infrastructure’s first strategic project in Latin America.

HNA Infrastructure will take a 60 percent share in the airport. Odebrecht, Latin America’s largest infrastructure conglomerate, and partner Changi Airports International own the remaining share.

In addition, HNA Infrastructure has agreed to sell 9 percent of its stake to Changi Airports International, giving HNA a 51 percent share and Changi 49 percent.

Galeão is the largest international airport in Rio de Janeiro and provides significant access to the Brazilian and Latin American region, according to the firm.

The transaction is subject to regulatory approvals in China and Brazil and is expected to close in the fourth quarter.

 

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