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NEWS Last modified on June 9, 2017

Leading shareholder Groupe ADP acquires an additional 8.12% stake in TAV Airports

Global airport operator, Groupe ADP, has invested $160 million to increase its shareholding in TAV Airports by 8.12% to 46.12%.

The deal, through subsidiary Tank ÖWA alpha GmbH, will see it acquire Akfen Holding's stake in TAV Havalimanları Holding AS in TAV Airports.

Groupe ADP, which manages a portfolio of 23 airports across the globe including CDG and Orly in Paris, has been a 38% shareholder of TAV Airports since 2012.

The transaction values TAV Havalimanları Holding – TAV Airports' parent company – at around $2 billion, equivalent to TRY19.2 per share.

Tepe İnşaat Sanayi AŞ and Sera Yapi Endustrisi ve Ticaret AŞ, the other two key founding shareholders of TAV Airports, have expressed their support in favour of this transaction and its prospects for TAV Airports.

Meanwhile, Groupe ADP will sell its 49%-stake in TAV Investment, mother company of TAV Construction, to Sera Yapi Endustrisi ve Ticaret AŞ and Tepe İnşaat Sanayi AŞ for an amount of €9 million.

Groupe ADP notes that increasing its commitment in the airport group TAV Airports and selling its stake in TAV Construction is in line with its decision to refocus its international activities on its core business.

augustin de romanet 9 Gerard Uferas ADP
Augustin de Romanet, CEO of Groupe ADP, says: "The acquisition of 8.12% of TAV Airports' shares will enable Groupe ADP to bring its stake to 46.12 % so that to become a leading shareholder of TAV Airports with an increased involvement in this strategic asset.

"This operation will allow increased cooperation and coordination between Groupe ADP and TAV Airports.

"Moreover, this transaction shows the confidence that Groupe ADP has in TAV Airports potential of development, especially for the expansion in the fast growing areas such as the Middle East, Africa and Asia, in perfect addition to the management of Istanbul Atatürk airport until 2021.

"Groupe ADP also renews its trust in the management of TAV Airports, led by a remarkable entrepreneurial spirit."

TAV Airports currently operates 14 airports in Turkey and around the world, and served 104 million passengers in 2016.

The group is fully vertically integrated and provides all commercial services in the airports it operates and provides airports services in many airports around the world.

TAV Airports intends to deploy its social and intellectual capital and strong balance sheet to take advantage of growth opportunities in airport operations and services such as duty free, food and beverage, ground handling, security, operation services and IT through both organic and inorganic growth.

Its CEO, Sani Sener, comments: "Groupe ADP is our leading shareholder and together, we form a global platform of 26 airports and approximately 245 million passengers to provide best-in-class airport services around the world.

"This transaction clearly demonstrates Groupe ADP conviction that TAV Airports represents superb growth opportunities in our core markets.

 "The talented human resources pool of TAV Airports is a strategic asset for ADP. The complementary strengths of TAV Airports and Groupe ADP will continue to serve us in creating shareholder value well into the future."  

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