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It started out its life as the HMS Vengeance, built by the United Kingdom during World War II. It was purchased by Brazil in 1956 for USD $9 million, and named after Brazilian President Juscelino Kubitschek's home state of Minas Gerais. He apparently made this decision as part of an (ultimately unsuccessful) effort to appease the Brazilian military, although this was only one of many extravagant projects Kubitschek carried out (such as the establishment of the city of Brasília).
It served for 42 years in the Brazilian Navy, before being decommissioned. The hull of the Minas Gerais was widely considered not to be much more than scrap metal. The aircraft carrier was offered for sale on the internet with an asking price of USD$4 million.
In 2002, it was sold at auction for USD $2 million to HK Jiexin Shipping , a Hong Kong company. The company claims it will anchor it in Zhoushan, China, near ShanghaiAlternate meanings: See Shanghai (disambiguation Shanghai ( Chinese: , pinyin: shang hi; Shanghainese IPA: /z h/) is China's largest city and is situated on the banks of the Chang Jiang delta. In Chinese, Shanghai's abbreviations are H ( or ) and Shen . and will convert it into a museumA museum is a non-profit making, permanent institution in the service of society and of its development, and open to the public, which acquires, conserves, researches, communicates and exhibits, for purposes of study, education and enjoyment, material evi with shops and a bar. However as of October 2003, this bid was rescinded, and the Minas Gerais is currently set to be scrapped.
On December 29, 2003, there was an attempt to sell an aircraft carrier on ebay with nearly the same specifications as the Minas Gerais but was not named as such; there are conflicting reports on the identity of the vessel. The auction was pulled before a successful close of transaction, possibly because of eBay's policy prohibiting the sale of military ordnance.