RELATED HOT TOPICS: Social Infrastructure Licensing & Concessions Sports centers

Local consortium wins São Paulo stadium concession

By BNamericas Monday, February 11, 2019

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The concession for São Paulo's Pacaembu sports complex will go to a consortium two Brazilian companies formed (pictured).

Consortium Patrimônio SP, comprising engineering company Progen and investment fund Savona Fundo de Investimento em Participações, offered 111mn reais (US$29.8mn) for the 35-year concession.

The value offered was nearly triple the minimum of 37.5mn reais the city demanded, and eclipsed two other offers.

The auction of the sports complex is part of São Paulo's plan to promote a series of concessions and privatizations to reduce fixed costs.

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