TAV seals deal with French firm

ISTANBUL - Anatolia News Agency

French airport operator Aeroports de Paris has completed the purchasing process to acquire 38 percent of Turkish counterpart TAV Havalimanları (TAV Airport Holding) for a total of $874 million, and 49 percent of TAV Investment Holding, a construction company.

The chairman and chief executive officer of Aeroports de Paris, Pierre Graff, said, “Our partnership with TAV Havalimanları is a defining moment bringing an international dimension to Aeroports de Paris. This partnership has both organic and inorganic growth potential.”

The biggest shareholders in TAV Havalimanları – Akfen Holding, Tepe İnşaat and Sera Yapı – have completed the share transfer, the company said in a statement to the Istanbul Stock Exchange May 16.
A share sales agreement was signed by the parties on March 11.

TAV Havalimanları Executive Chairman Sani Şener said a global airport operating alliance has been formed with the share sale.

The alliance operates 37 airports directly or indirectly, serving some 180 million passengers, he said. The transaction also shows the confidence of international firms in the economy of Turkey, he added.