French construction group Vinci and a partnership between U.S. private equity firm Carlyle Group and the Qatar Investment Authority are leading bidders for a 40% stake in Turkish airport operator TAV Havalimanlari Holding, Reuters reported Friday. TAV is valued at roughly $2 billion, Reuters wrote.
(Reuters) – French construction group Vinci and a partnership between U.S. private equity firm Carlyle Group and the Qatar Investment Authority (QIA) are leading bidders for a 40 percent stake in Turkish airport operator TAV Havalimanlari Holding, three sources close to the deal told Reuters on Friday.
TAV shareholders construction firm Tepe Insaat and Akfen Holding will retain an eight percent stake each and TAV Chief Executive Sani Sener will keep his four percent stake in the possible deal, which values the firm at around $2 billion, same sources said.
Tepe and Akfen said in September they will evaluate strategic options for their stake in TAV. Akfen has a 26.12 percent stake in TAV, according to its web site. Tepe Insaat has a 26.06 percent stake in TAV. Sani Sener’s Sera Yapi has a 4.03 percent stake in the firm, 3.52 percent is held by other minority shareholders and the rest is free float.
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