Judge finalizes Varig bid
After clearing up questions about financing, a Brazilian bankruptcy court judge has approved a bid by an employee group to by the assets of Varig, Brazil's flagship airline.
Judge Luiz Roberto Ayoub last week raised questions about the employee group's ability to finance the deal after putting up only $125 million in cash in a $449 million bid, the Miami Herald reported. But after the group presented guarantees showing it could fund the bid, the judge gave a final approval of the purchase.
Judge finalizes Varig bid
