São Paulo sports complex concession receives 4 offers

Friday, August 17, 2018

São Paulo received four proposals for the Pacaembu sports complex concession, even though the auction remains suspended.

The four bidders were Progen Projetos de Engenharia; Universidade Brasil; Construcap; and WTorre, a city hall spokesperson told BNamericas.

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Details of each offer, however, were not unveiled as the auction is suspended on order of city audit court TCM asit detected irregularities in the auction terms.

City hall obeys the order but is evaluating measures to restablish the process.

The 35-year concession was open to national and international investors and is expected to generate 400mn reais (US$103mn) in investments, fees and taxes. In 2017, Pacaembu posted revenue of 2.46mn reais.

Tendering the 40,000 capacity sports complex is part of São Paulo's plan to promote a series of concessions and privatizations to reduce costs.