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TAVHL - TAV Havalimanlari Holding AS News Story

TRY15.53 0.0  0.0%

Last Trade - 18/09/20

Mid Cap
Market Cap £575.5m
Enterprise Value £1.12bn
Revenue £505.6m
Position in Universe 51st / 629

India's GMR Infra says Istanbul airport stake sale not concluded

Fri 13th December, 2013 12:10pm
Dec 13 (Reuters) - India's GMR Infrastructure Ltd  GMRI.NS  said a deal to sell its 40 percent stake in Istanbul's Sabiha Gokcen airport was in progress and not concluded yet, after a local newspaper reported it had sold the stake for 220 million euro ($302.58 million). Malaysia Airports Holdings  MAHB.KL  and TAV Havalimanlari TAVHL.IS  are in separate talks with GMR to buy its 40 percent in Sabiha Gokcen airport, one of Istanbul's two airports,  sources told Reuters last week. The Mint reported on Friday, citing a person familiar with the development, that GMR had sold its stake in the airport to TAV. It said the deal was likely to be announced after terms are worked out with two other stakeholders in the airport. Malaysia Airports, which already holds 20 percent in the airport, Turkish firm Limak, which owns 40 percent, and GMR acquired the operating rights to the airport for 20 years for 1.93 billion euros ($2.6 billion) in 2007. GMR, whose business interest include airport, power and roads, said in a statement on Friday that the "right of first refusal process in respect of the sale of stake is in progress" and the deal was not concluded. ($1 = 0.7271 euros) (Reporting by Sumeet Chatterjee in MUMBAI; Editing by Sunil Nair) ((sumeet.chatterjee@thomsonreuters.com)(+91-22-61807068)(Reuter s Messaging: sumeet.chatterjee.thomsonreuters.com@reuters.net)) Keywords: GMR ISTANBUL/AIRPORT
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