June 9, 2015 / 4:50 PM / 4 years ago

Brazil's Infraero, Germany's Fraport to set up new airport services firm

BRASILIA, June 9 (Reuters) - Brazil’s state-run airport operator Infraero will spin off its services business into a new company to be created in partnership with Germany’s Fraport , Brazil’s aviation minister Eliseu Padilha said on Tuesday following the announcement of a $64-billion infrastructure investment program.

The new firm will be called Infraero Serviços and will be created as soon as possible, Padilha said during a press conference. The spin-off is part of a broader plan to re-structure Infraero, which also includes reducing the minimum Infraero’s stake in new airport concessions to 15 percent from 49 percent previously, Padilha added. (Reporting by Alonso Soto; Writing by Silvio Cascione)

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