SAO PAULO May 10 Argentina's Corporación
América SA will take bids for minority stakes in both its
Brazilian airports by the end of May as it seeks funds to expand
in the country, newspaper Valor Econômico said on Wednesday.
According to the report, the company has hired Itaú Unibanco
Holding SA's investment banking unit to explore a
sale of up to 49 percent in each of the international airports
serving Brasília and Natal.
Brazilian subsidiary Inframérica Participações SA is
currently sole owner of operating licenses for both airports.
Valor did not specify how it obtained the information about
the stake sale plans. The paper said Corporación América
confirmed it was looking for partners but had not reached a
Representatives for Corporación América were not immediately
available for comment.
Corporación América intends to continue expanding in Brazil
through additional investments in the two airports and
participating in future auctions, Valor reported.
The plans underscore increased appetite for Brazilian
airports after a successful auction earlier this year kicked off
President Michel Temer's ambitious privatization program. The
government has said it could sell off operating licenses for at
least 10 more airports as soon as next year.
(Writing by Bruno Federowski; Editing by Lisa Von Ahn)