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Article: Report: Tanure withdraws bid for Brazilian troubled airline Varig
- Article from:
- AP Worldstream
- Article date:
- January 5, 2006
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AP Worldstream
01-05-2006
Dateline: SAO PAULO, Brazil
Nelson Tanure, owner of Docas Investimentos, withdrew his proposal to buy control of Brazil's embattled flagship airline Varig after creditors, shareholders and company workers opposed the deal, local media reported Thursday.
Tanure said, however, he would maintain his bid of US$139 million (euro117 million) for the profitable logistics and maintenance wings of Varig, Docas spokesman Demetrius Guiot told the Agencia Estado news service.
Tanure could not be reached to confirm the decision.
Brazil's Varig, or Viacao Aerea Rio-Grandense, filed for bankruptcy at a Brazilian court in June because of a debt load of about 7.7 billion Brazilian ...