Lefosse Partners

Lefosse acts in the first airport concession rebid in Brazil

Lefosse acted in the rebidding for the concession of the São Gonçalo do Amarante Airport (ASGA).

The work included public consultation, analysis of the bid notice, concession agreement and related documentation; and all aspects of Zurich’s participation in the Auction, including preparation of documentation to be submitted and negotiation of related contracts such as intermediation agreement, indemnity agreement and financing documentation.

The analysis aimed to support Zurich decision-making process, such as the feasibility of concluding the investment and potential liabilities. Moreover, our work includes the regulatory analysis of any aspects of concession, rebidding process and relationship with National Civil Aviation Agency (ANAC). This is the first time a concession (and, more particularly, an airport) goes through rebidding in Brazil.

With the capacity to receive 6 million passengers per year, São Gonçalo do Amarante Airport (ASGA), located in Rio Grande do Norte, was the first in Brazil to be granted to the private sector, in 2011. In 2017, there was no legislation in Brazil regulating the procedure for airports rebidding. This scenario changed with the issuance of Federal Law No. 13,448/2017. Rebidding is the possibility of conducting a new bid for projects previously granted to the private sector before the end of its contractual term.

ASGA was qualified for rebidding and in June 2021, and after a public consultation, the Brazilian Agency of Civil Aviation (ANAC) approved the Bid Notice and the draft Concession Agreement, submitting these documents to the Federal Court of Accounts (TCU). Only in January 2023, TCU voted in favor of the publication of the Bid Notice, registering some determinations and recommendations to ANAC, prior to the publication. On February 8, 2023, ANAC published the Bid Notice regarding ASGA rebidding.
The Public Auction session was held in May 19, 2023.

The purpose of the auction was to select the most advantageous proposal, based on the criterion of the highest initial contribution offered for the expansion, maintenance and operation of the airport for a period of 30 years. Zurich Airport already operates in Brazil through the concession of the airports of Macaé, Vitória, Florianópolis, Confins, as well as other airports in Latin America such as Bogotá, Curaçao, Iquique and Antofagasta.

Lefosse relied on partners Eduardo Carvalhaes, Ricardo Prado, Miriam Signor and Felipe Gibson (pictured from left to right); Pedro Cruciol (counsel); and associates Karen Coutinho, Mariana Antunes, Gabriel Prétola and Leticia Aguiar.