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Brazil to privatize two airports in late October

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(Globalpost/GlobalPost)

An auction to privatize airports in Rio and Belo Horizonte, two host cities for the 2014 World Cup, will be held on October 31, Brazilian authorities said Friday.

Presidential chief of staff Gleisi Hoffmann announced the date for the auction to sell concessions to run

Rio's Galeao airport and Belo Horizonte's Confins at a Brasilia press conference.

Officials said bidders will have to make a minimum offer of $2.1 billion for the Galeao concession and $450 million for Confins,

In February 2012, 20-year concessions were granted to manage three airports: two in Sao Paulo and one in Brasilia, breaking the monopoly of Infraero, the federal agency that runs more than 70 airports.

Brazil, a continent-sized country of 194 million, has moved to modernize its aging and congested airports in preparation for handling tens of thousands of tourists expected for next year's World Cup and the 2016 Rio summer Olympics.

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http://www.globalpost.com/dispatch/news/afp/130810/brazil-privatize-two-airports-late-october