TAV acquires last 35 percent stake in Havaş

TAV acquires last 35 percent stake in Havaş

ISTANBUL - Anatolia News Agency
TAV acquires last 35 percent stake in Havaş

TAV’s Exucutive Board Director Şener says partnership in Havaş was very fruitful.

TAV Havalimanları has acquired the remaining 35 percent stake in Havaş for 80 million euros from partners İş Girişim Sermayesi Yatırım Ortaklığı and HSBC Investment Bank Holdings.

TAV Executive Board Director Sani Şener said their expectation for Havaş’s future performance was very strong and that this had pushed them to purchase the remaining stake in the firm.

“Three years ago, as part of Havaş’s growth strategy, we signed a partnership agreement with two respectable partners, İş Girişim Sermayesi Yatırım Ortakluığı and HSBC Investment Bank Holdings under TAV Havalimanı’s management. With the completion of this partnership, we were able to pump 102 million euros in cash into TAV Havalimanları. In these three years, with our financial partners, we were able to turn Havaş into a much-respected ground services company,” Şener said.

Havaş has increased the number of airplanes it services in Turkey two-fold, Şener said, adding that the company was now able to provide ground service in six different countries with its partnership with Havaş Europe.

“Our partnership was truly very fruitful,” Şener said.