TAV agrees to acquire 49 percent stake in Antalya airport operator for 360 mln euros
ISTANBUL
TAV Airports has said it signed an agreement to buy IC İçtaş’s shares at Antalya Airport in southern Turkey for 360 million euros.
In a statement late on Feb. 27, the company, which operates many domestic and foreign airports, including Istanbul’s Atatürk Airport, said it will have equal rights in the management of the airport.
TAV Airports is buying IC İçtaş’s 49 percent stake in ICF Antalya, the joint-venture that manages Antalya Airport, becoming a partner with Germany’s Fraport.
As per the agreement, TAV will have co-control of the company and 50 percent dividend rights, it said.
Consequently, the number of airports in TAV’s portfolio reaches 18 and the annual number of passengers served increases to approximately 141 million, according to a TAV statement.
The share purchase agreement between TAV and IC İçtaş will be finalized following the approval by the State Airports Authority (DHMI) and the Competition Authority, the company said.
Turkey’s second biggest in terms of international passenger traffic, Antalya Airport served more than 26 million passengers in 2017.
“As TAV, our core business is airport management and we continue to focus on this industry. We will be happy to partner with Fraport in Antalya, one of the most prominent tourism destinations in the Mediterranean. Four years ago, we had shifted our strategy to grow our airport management portfolio while steering our service companies to grow beyond TAV, in order to compensate for the foreseen closure of Istanbul Atatürk. Today, our services and products are used in 77 airports across 19 countries. In our existing airports, we are serving to 115 million passengers and now we add more than 18 million international passengers, with the inclusion of Antalya in our portfolio,” TAV Airports President and CEO Sani Şener said.
Antalya Airport has 28 boarding bridges, 94 parking positions for planes and a carpark that can accommodate 2,110 vehicles.
Fraport has been operating Antalya Airports since 1999. In March 2007, Fraport-IC İçtaş partnership won the tender to operate the airport until Dec. 31, 2024.