HNA Group’s subsidiary HNA Infrastructure Investment Co. plans to purchase a 21% stake in Brazil’s Rio de Janeiro Aeroportos ( RJA) for CNY108 million ($16 million).

According to an HNA statement released by the Shanghai Stock Exchange, HNA Investment will also increase a CNY2.2 billion capital injection to RJA to pay off its airport franchise fees. RJA holds a 51% stake in Concessionária Aeroporto Rio de Janeiro (CARJ), which holds the franchise rights for Rio de Janeiro Airport.

Brazil’s engineering company Odebrecht and Changi Airports International (CAI) together hold a 51% stake in CARJ while the Brazilian government holds 49%. After the deal, HNA Infrastructure will replace Odebrecht and hold a 51% stake in CARJ with CAI. The deal still needs Brazilian and Chinese government approvals.

Rio de Janeiro Airport is the second biggest airport in Brazil with an annual passenger throughput of 17 million. In 2016, RJA reported a net loss of CNY742 million with a debt ratio of 91.5%.

HNA Infrastructure focuses mainly on airport management and engineering construction and manages seven airports, including Sanya Phoenix International, Yichang Sanxia and Tangshan Sannuhe.

In March, Haikou, China-based HNA Group announced it would purchase an 82.5% stake in Frankfurt-Hahn Airport in western Germany in a deal that is reportedly worth $15.8 million.