Apr. 30—TAV Airports and Kazakhstan Infrastructure Fund have completed the buy-out of Almaty Airport, Trend reports citing the TAV.
The capacity of the airport will be doubled with a $200 million investment.
A member of Groupe ADP, TAV Airports took over operations and is now 85 percent beneficial owner of Almaty Airport and associated fuel and catering businesses. Kazakhstan Infrastructure Fund, managed by VPE Capital and backed by Kazyna Capital Management, holds the remaining 15 percent stake.
Located in the southeast of the country and an important stop on the ancient Silk Road, Almaty is a strategical junction along with the One Belt One Road project, connecting China-Central to West Asia, Europe, and Africa.
"As part of the largest airport management group globally, we'll be promoting Almaty and Kazakhstan as the business capital of the region, as a country with a rich cultural heritage and diverse tourism opportunities. Our aim is to contribute to the economic and social development of the Almaty region, creating employment and facilitating a global reach for local businesses," TAV Airports President and CEO Sani Şener said.
On May 8, 2020, Turkey's TAV Airports signed a share purchase agreement to buy Kazakhstan's Almaty International Airport.
The negotiations were announced in Nov. 2019 as the consortium formed by Turkish TAV Airports (of which Groupe ADP owns 46.1 percent of the capital) and VPE Capital operating in Kazakhstan and Russia, started discussions with the owner of Kazakhstan's Almaty International Airport regarding the airport's potential acquisition.
TAV Airports provides integrated services in all areas of airport operations, with a global footprint at 100 airports in 30 countries.
A member of French Groupe ADP, TAV Airports is part of the leading airport management platform globally that served 218 million passengers in 2019.
Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security, and commercial area management. — Follow the author on Twitter: @nargiz_sadikh
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