US private equity firm Carlyle Group has teamed up with Qatar Investment Authority (QIA) to bid for a 40% stake in Turkish airport operator TAV Havalimanlari Holding.
The French construction group Vinci are also one of the leading bidders for a chunk of the company.
TAV Airports currently operates Istanbul Atatürk Airport, Ankara Esenboga Airport, Izmir Adnan Menderes Airport International Terminal and Antalya Gazipasa Airport in Turkey as well as two airports each in Georgia, Tunisia and Macedonia.
Its business also includes ground handling company Havas, a duty free unit, and a catering business - BTA.
According to Reuters, the current TAV shareholders – construction firm Tepe Insaat and Akfen Holding – are selling 18% of their stakes each, while minority shareholders holding 3.52% of the shares will also sell their stakes in a deal which values the firm at around $2 billion.
At the moment, Akfen has a 26.12% holding of the operator while Tepe Insaat has a 26.06% share.
Reuters added that TAV CEO Sani Sener will keep his 4.03% stake and the remaining 40.28% is freely floating.
TAV generated €753 million euros in consolidated revenue in 2010.