Brazil World Cup Stadium In Natal Up For Sale As Owner Battles Corruption Scandal

Brazil's World Cup stadium in Natal "is up for sale as the company that owns it is suffering from cash flow problems following a corruption scandal," according to Andrew Downie of REUTERS. Natal's Dunas arena is being sold by owner Grupo OAS, "with the company also trying to sell the 50 percent share it owns of the Fonte Nova arena in Salvador." The company "has struggled for months with the impact of a corruption investigation at state-controlled oil company Petrobras, which undercut the builder's access to financing." An economic downturn, government austerity and a slumping currency "has also taken its toll, leading to Grupo OAS to announce it is selling its stakes in the stadiums and other businesses to focus on the core construction business" (REUTERS, 4/1).