According to Reuters, French airport operator ADP will increase its stake in Turkish airport operator TAV Airports to 46% from its current stake of 38%. The cost for additional 8.12% stake will be around US$ 160 Million with valuation of TAV Airports’ equity at around $2.0 billion, or 19.2 Turkish lira per share. With this TAV will still remain a Turkish company, with its listing continuing in Istanbul.
TAV operates 14 airports in Turkey and around the world, including Istanbul’s Ataturk airport.
Paris Aéroport, formerly Aéroports de Paris or ADP (Paris Airports), is the airport authority that owns and manages the fourteen civil airports and airfields in the Île-de-France (Paris) area including Charles de Gaulle International Airport, Orly Airport and Le Bourget Airport. The company generated a revenue of €2.916 billion (US$ 3.27 billion) in 2015 and had 9,000 employees as of that year.
TAV Airports Holding was established as a joint venture between Tepe and Akfen groups and Airport Consulting Vienna in 1997 and is the leading operator in Turkey. The firm operates Istanbul Atatürk Airport , Ankara Esenboğa Airport Domestic and International Terminals, Izmir Adnan Menderes Airport International Terminal and Antalya Gazipaşa Airport in Turkey, Tbilisi Airport and Batumi International Airport in Georgia, Monastir Habib Bourguiba International Airport and the Enfidha – Hammamet International Airport in Tunisia, Skopje “Alexander the Great” Airport and Ohrid “St. Paul the Apostle” International Airport in the Republic of Macedonia. It comprise of almost 19,000 employees worldwide.