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UPDATE 1-Brazil auctions airports in promising start to privatizations

March 17, 2017

By: Gabriela Mello

(Reuters) Brazil awarded three European groups on Thursday the rights to operate four airports, drawing nearly double the minimum bids at an auction that underscored investors' appetite for a new wave of privatizations under President Michel Temer.

German airport operator Fraport AG, French group Vinci SA and Zurich Airport bid a combined 1.46 billion reais ($470 million) for the rights to run airports in Porto Alegre, Salvador, Fortaleza and Florianopolis. The companies committed to investing at least 6.61 billion reais in the airports and to paying the government an additional 2.26 billion reais in operating fees over the next 30 years...

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Read More At Reuters: http://www.reuters.com/article/brazil-infrastructure-airports-idUSL2N1GT101