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TAVHL - TAV Havalimanlari Holding AS News Story

TRY15.07 0.0  0.0%

Last Trade - 25/09/20

Mid Cap
Market Cap £561.2m
Enterprise Value £1.10bn
Revenue £505.1m
Position in Universe 52nd / 629

Malaysia Airport Holdings could sell stake in Istanbul's Sabiha Gokcen

Mon 27th October, 2014 12:39pm
ISTANBUL, Oct 27 (Reuters) - Malaysia Airport Holdings Bhd 
 MAHB.KL  may sell a minority stake in Istanbul's Sabiha Gokcen 
airport after it takes full ownership of the business in the 
coming months, a senior company official told Reuters on Monday. 
    MAHB, which already owns 60 percent of Istanbul's second 
airport, said last Thursday it was exercising its right to 
refuse a 285 million euro ($360 million) offer from Turkey's TAV 
Holdings  TAVHL.IS  for the outstanding 40 percent and would 
instead buy the stake itself for the same amount. 
    "We are determined to have the majority stake at least for 
the short term," Khair Mirza, MAHB Senior General Manager in 
charge of planning, said in an interview in Istanbul. 
    "We thought it was more prudent to take the 100 percent 
first, but we don't have the intention to hold 100 percent 
forever," he said, adding that it was too early to speculate on 
who a potential minority partner might be. 
    Mirza said MAHB's purchase of the outstanding 40 percent of 
Sabiha Gokcen was expected to be finalised in the first quarter 
of next year, pending regulatory approval, and said that MAHB 
had credit lines available from banks to close the deal. 
    (1 US dollar = 0.7888 euro) 
 (Reporting by Asli Kandemir and Evrim Ergin; Editing by Nick 
 ((nicholas.tattersall@thomsonreuters.com; Reuters Messaging: 
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