Article: Varig sells logistics and maintenance units.(Brief Article)

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Brazilian airline Varig (VAGV4.SA) has sold its logistics and maintenance units to Portugal's TAP and the US-based private equity fund MatlinPatterson Global Opportunities LP.

Varig has reportedly struggled to emerge from bankruptcy protection. According to Reuters, the final price of USD72.2m for VarigLog and Varig Engenharia e Manutencao is USD10m more than previously agreed. TAP is also aiding Varig in making a rescue plan.

The Brazilian carrier will use some of the ...

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