TAV to sell off 40% with French, US and Qatar investors lining up
Reuters has reported that French construction group Vinci and a partnership between U.S. private equity firm Carlyle Group and the Qatar Investment Authority (QIA) are the leading bidders in a race for a near 40 percent stake in Turkish airport operator TAV Havalimanlari Holding
TAV has won contracts for major airports in North Africa as well as Saudi Arabia. It is also the operator for Istanbul's Ataturk Airport.
It is beleived that other operators in Europeare also keen in taking a stake in the company.
Anaysts stuggest that much of the company's strength lies in its success running non-aviation operations, which have generated increasing amounts of profit. About 57pc of TAV's overall sales come from non-aviation revenue such as duty free and food and beverage.
Also, there is significant opportunity to expand. Turkey has the potential to double annual passenger capacity at airports to 206m, according to San Sener, TAV's chief executive.
Potential buyers are currently looking at the sales information with bids not due until next month.
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