TAV Airports enters into a contract for the acquisition of 38% of its issued shared-capital by Aéroports de Paris Group
Tepe Construction, Akfen Holding and Sera Yapı of TAV Airports Holding and TAV Investment Holding have signed contracts with Aéroports de Paris Management (ADPm) -a wholly owned subsidiary of Aéroports de Paris (ADP) - for the sale of portion of their shares.
With the transaction stipulated in the share purchase contracts, 38 per cent of TAV Airports Holding's issued share capital will be sold for a total consideration of 874 million USD. The transaction valued TAV Airports Holding equity at 2.3 billion USD, equivalent of 11.3 Turkish Lira per share. This amount equals to 32 per cent premium based on TAV Airports Holding's latest closing price.
In addition, 49% of TAV Investment Holding's issued share capital shall be sold for a consideration of 49 Million USD. The transaction values TAV Investment Holding's equity at 100 million USD. TAV Investment Holding is a non-public company who owns 100% shares of TAV Construction.
With the transaction stipulated in the share purchase contracts, 38 per cent of TAV Airports Holding's issued share capital will be sold for a total consideration of 874 million USD. The transaction valued TAV Airports Holding equity at 2.3 billion USD, equivalent of 11.3 Turkish Lira per share. This amount equals to 32 per cent premium based on TAV Airports Holding's latest closing price.
In addition, 49% of TAV Investment Holding's issued share capital shall be sold for a consideration of 49 Million USD. The transaction values TAV Investment Holding's equity at 100 million USD. TAV Investment Holding is a non-public company who owns 100% shares of TAV Construction.
Hamdi Akın and Sani Sener will continue in their positions as Chairman of the Board of Directors and CEO of TAV Airports Holding, respectively.
TAV Airports CEO Sani Sener said "We believe that TAV Holding will be able to target even more ambitious goals through the collaboration we have realized with Aéroports de Paris, one of world's leading airport operators. The partnership of these two global airport brands in managing and building airports will result in the extensive know-how stemming from the operation of 37 airports serving 180 million passengers around the world."
TAV Airports CEO Sani Sener said "We believe that TAV Holding will be able to target even more ambitious goals through the collaboration we have realized with Aéroports de Paris, one of world's leading airport operators. The partnership of these two global airport brands in managing and building airports will result in the extensive know-how stemming from the operation of 37 airports serving 180 million passengers around the world."
Pierre Graff, Chairman and CEO of Aéroports de Paris said: "The partnership with TAV is a major strategic investment for Aéroports de Paris group. The high quality of the airport portfolio, in Turkey and abroad, is very attractive, as all airports have been recently built, are best-in-class in terms of quality, and have ample room for growth."
The successful growth, which TAV Airports has achieved through integrated business model that requires diversity, is also in line with Aéroports de Paris' international growth strategy. The coalition of TAV Airports and Aéroports de Paris will lead to one of the world's largest collaborations in the airport operation sector. The collaboration between the two companies will lead to sharing experience, know-how and portfolio as well as growth through systematic work, and career opportunities for employees within both groups.
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