Angra dos Reis Airport

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In April 2005, the Brazilian company Grapiuna Investimentos e Empreendimentos Ltda was awarded in a competitive bidding process the contract to operate and lease the airport located at the city of Angra dos Reis (state of Rio de Janeiro). Besides Grapiuna Investimentos e Empreendimentos Ltda, no other company took part in the contest. The bidding criteria set by the regulatory agency was available. Grapiuna established the special purpose company Angra Aero-Portos Ltda to lead the project and transferred part of its shares to two other Brazilian companies: Sociacam and Costa do Sol Operadora Aeroportuaria. Angra Aero-Ports Ltda ownership was divided equally among the three companies. The 25-year contract was signed with the regulatory agency and the sponsors took over the operations in September 2005. The project company committed to transfer 5% of its net revenues to the state government. In 2011, the Brazilian group Libra acquired 60% of Costa do Sol Operadora Aeroportuaria shares; the remaining 40% remained with small investors.