Mozambique Plans SPV for $130 Million State Airline Bailout

Mozambique is creating a special-purpose vehicle for a group of state-owned companies to acquire shares in the national airline LAM, the cabinet said in a statement.

The new entity will be owned by Hidroeléctrica de Cahora Bassa, the state-owned hydropower company, railway company Caminhos De Ferros de Moçambique, and insurance company Empresa Moçambicana de Seguros.