Koç Holding makes offer for duty-free shops of Istanbul’s 3rd airport

ISTANBUL

Turkey’s Koç Holding’s Setur will make an offer to run the duty-free shops at Istanbul’s under construction third airport along with France’s Lagardere Services, it announced in a written statement to the Public Disclosure Platform (KAP) on Oct. 16.

Setur and Lagardere Services submitted the financial elements of their offer to the Istanbul Grand Airport (IGA) to qualify for the bid, which the IGA has initiated to identify the operator of its duty-free unit.

Setur and Lagardare Services will submit the operational elements of their offer in the coming days and will hold a 50 percent share in the partnership, according to the statement.

The IGA was established by a consortium of Turkish construction firms Cengiz, Limak, Mapa, Kolin and Kalyon to undertake the third airport project in 2013. The consortium had won the government bid for the airport’s construction and a 25-year lease with an offer worth 22.2 billion euros ($29.925 billion) in May 2013.