ADP To Increase TAV Airports Stake
Aéroports de Paris (ADP) has agreed to increase its stake in Turkish airport operator TAV Airports.
ADP will buy Akfen Holding’s 8.12 percent stake for USD$160 million, increasing ADP’s shareholding in TAV to 46.12 percent. The transaction is expected to complete during summer 2017. The acquisition values TAV Airports at USD$2 billion.
TAV operates 14 airports, including European and Middle Eastern hubs. It runs Istanbul’s Atatürk Airport, the world’s 14th busiest in 2016, with over 60 million passengers.
ADP’s share purchase is subject to regulatory approvals.