Malaysian firm to up Istanbul airport stake

ISTANBUL - Reuters

Turkey’s Limak Investment has a 40 percent stake in Sabiha Gökçen Airport, as GMR holds 40 percent and Malaysia Airports holds 20 percent. DHA photo

One of the stockholders in Istanbul’s Sabiha Gökçen Airport, Malaysia Airports has reportedly bought Indian GMR’s 40 percent stake for approximately 225 million euros. 

According to Malaysian state-run news agency Bernama, after GMR wanted to sell its stake, Malaysia Airports used its “priority right.”

Turkey’s Limak Investment has a 40 percent stake in Sabiha Gökçen Airport, as GMR holds 40 percent and Malaysia Airports holds 20 percent. 

Reuters reported on Dec. 3 GMR Infrastructure accelerated negotiations to sell its 40 percent stake in Sabiha Gökçen Airport. Malaysian Airports and Turkish airport developer Tav Airport Holding were interested in buying shares. 

1.9 billion euros for 20-year operation right

Limak Holding’s subsidiary Limak Investment, Indian GMR Infrastructure and Malaysia Airports joint-venture won the operation rights of Istanbul Sabiha Gökçen International Airport for 20 years on May 1, 2008. They paid 1.9 billion euros and have made 336 million euros of investments.

The airport, which has a 25 million passenger capacity, had 15 million passengers last year and is expected to host around 19 million passengers this year.