Consortia pay $9bn for Brazil airport rights

Airport operators from Singapore, Germany, Switzerland and Brazil on Friday won rights to run airports in Rio and Belo Horizonte, two host cities of the 2014 World Cup. One consortium including Odebrecht and Singapore airport operator Changi paid 19 billion reais ($8.24 billion) for a 25-year concession to run Rio's Galeao airport at an auction held at the Sao Paulo stock exchange. A second consortium including Brazil's biggest highway operator CCR in partnership with Germany's Flughafen Munchen, operator of Munich airport, and Switzerland's Flughafen Zurich paid 1.8 billion reais ($780 million) for a 30-year concession for Belo Horizonte`s Confins airport.