China’s group HNA is purchasing a 51% stake in Rio de Janeiro’s airport from Brazilian conglomerate Odebrecht, which has been tainted by corruption scandals.
The Tom Jobim airport in Rio, is Brazil’s second busiest airport with around 17 million passengers per year.
HNA runs airlines, airports and hotels among other operations, and in August 2016 it acquired a 23% stake in Azul Linhas Aéreas, Brazil’s third largest carrier, which recently completed its IPO in the Brazilian and American stock markets.
It will hold $8 billion stake in the airport as one half of a consortium along with Singaporean firm Changi Airports International.
HNA will hold a 51 % stake in the airport in a consortium called RioGaleao. The remaining 49% is held by the Brazilian state.