Brazil privatizes three airports ahead of World Cup

The Brazilian government privatized three airports, including Sao Paulo's Garulhos, through concessions valued at a total of $14 billion during an auction Monday. The concession for Garulhos, the country's biggest airport, was won by a consortium that included three firms, including South Africa's ACSA, with an offer of more than $9.4 billion. Also privatized were Viracopos airport in Campinas, Sao Paulo state, and Brasilia's President Juscelino Kubitschek airport. The three airports together account for 30 percent of passenger traffic in Brazil.