Turkey’s TAV in talks with Saudi Oger to buy half of Medina airport stake
ISTANBULTurkey’s TAV has opened talks with Saudi Oger to buy half of the latter’s shares in a company that runs Medina’s international airport, it said in a written statement late on Sept. 6.
“We have started talks to buy half of some 33.3 percent of Saudi Oger’s shares in Tibah Development, some 33.3 percent of which is already owned by us. If a deal is clinched, TAV Airports’ 33.3 percent of share in Tibah Development will increase to 50 percent after the required permissions are taken,” said the statement to the Public Disclosure Platform (KAP).
Medina Airport has been run by the consortium including TAV since 2012 as part of a 25-year deal until 2037.
The airport gave services to a total of 5.8 million passengers in 2015, according to statement.
TAV Airports operates Istanbul Atatürk Airport, Ankara Esenboğa Airport, İzmir Adnan Menderes Airport, Gazipaşa Alanya Airport and Milas Bodrum Airport in Turkey. It also operates Tbilisi Airport and Batumi Airport in Georgia, Monastir Airport and Enfidha-Hamammet Airport in Tunisia, Skopje Airport and Ohrid Airport in Macedonia, and Zagreb Airport in Croatia, according to company website.