Varig's bankruptcy reorganization took a new twist Tuesday after a Brazilian buyout fund reportedly took controlling interest in the airline's parent, Varig SA. According to Reuters, the fund, Docas Invertimentos, owned by Nelson Tanure, paid $112 million to the Rubem Berta Foundation for 25% of the voting shares owned by the Foundation. It agreed to "rent" a further 42% of the shares, giving it control of the airline. TAP Portugal previously agreed to participate in a restructuring of ...

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