Brief: Tav Airports'Consortium Buys 100% Of Shares Of Almaty Airport And Associated Jet Fuel And Catering Businesses For Enterprise Value Of 365 Mln USD

Tav Havalimanlari Holding

30/04/2021 06:46

April 30 (Reuters) - TAV HAVALIMANLARI HOLDING  TAVHL.IS :
    * SAID ON THURSDAY TAV AIRPORTS' CONSORTIUM ACQUIRES 100% OF
SHARES OF ALMATY AIRPORT AND ASSOCIATED JET FUEL AND CATERING
BUSINESSES FOR ENTERPRISE VALUE OF 365 MILLION USD
    * TAV AIRPORTS' SHARE IN THE CONSORTIUM IS 85%
    * KAZAKHSTAN INFRASTRUCTURE FUND'S SHARE IN THE CONSORTIUM
IS 15%
    * PREVIOUSLY AGREED PURCHASE PRICE OF AN ENTERPRISE VALUE OF
415
MILLION USD REVISED DOWN TO 365 MILLION USD TO TAKE INTO ACCOUNT
TRAFFIC DECREASE IN ALMATY AIRPORT DUE TO THE PANDEMIC
    * PAYMENT OF AN ADDITIONAL "EARN-OUT" UP TO REMAINING 50
MILLION
USD TO SELLER WILL BE SUBJECT TO AN EARN-OUT SCHEDULE OF
REACHING CERTAIN THRESHOLDS OF TRAFFIC RECOVERY BY DIFFERENT
YEARS

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA7fZwRv
    
 Further company coverage:  TAVHL.IS  
   


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