TAV AGREES TO ACQUIRE 49% STAKE IN ANTALYA AIRPORT OPERATOR

TAV Airports is to expand its airport portfolio by acquiring IC ictas' 49% stake in Antalya Airport operator, ICF Antalya, for a fee believed to be in the region of Ђ360 million.

If approved as expected by Turkey's State Airports Authority (DHMI) and the Competition Authority, TAV will own, operate or have shares in 18 airports across the globe.

Although Fraport AG holds a 51% stake in ICF Antalya, TAV will co-control the company and have equal 50% dividend rights.

Turkey’s second biggest in terms of international passenger traffic, Antalya Airport served more than 26 million passengers in 2017.

TAV Airports president and CEO, Sani Şener, said: “As TAV, our core business is airport management and we continue to focus on this industry. 

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"We will be happy to partner with Fraport in Antalya, one of the most prominent tourism destinations in the Mediterranean. 

"Four years ago, we had shifted our strategy to grow our airport management portfolio while steering our service companies to grow beyond TAV, in order to compensate for the foreseen closure of Istanbul Atatürk. Today, our services and products are used in 77 airports across 19 countries. 

"In our existing airports, we are serving to 115 million passengers and now we add more than 18 million international passengers, with the inclusion of Antalya in our portfolio. 

"Being the second largest airport in turkey in terms of international traffic, Antalya Airport transaction grows our foothold in Turkey and further underlines our commitment to investing in our home country, and to the Turkish aviation market. 

"With our extensive know-how, we aim to work towards strengthening Antalya’s true potential. 

"We will continue looking for opportunities on a global scale and growing in the airport management industry."

Fraport has been operating Antalya Airports since 1999, with the current concession due to run until December 31, 2024.