Bubblegum Crisis
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Quote :
UPDATE 1-Turkey's TAV seeks $250 mln bank loan for Saudi airports
Tuesday, 16 May 2017 | 10:53 AM ET
DUBAI, May 16 (Reuters) - Turkey's TAV is in talks with banks to get the $250 million it needs to develop three airports in Saudi Arabia, the airport operator's president Mustafa Sani ener said on Tuesday.
TAV Airports Holding, in partnership with Al Rajhi Holding Group, was chosen to develop and operate Saudi Arabia's Yanbu, Qassim and Hail international airports.
ener said TAV was talking to Saudi banks, adding that Turkish company would use $100 million of its own equity.
Airports are one of several sectors Saudi Arabia is seeking to privatize as it aims to raise around $200 billion in order to diversify its economy in an era of lower oil prices.
The kingdom is expanding its airports as it expects to receive more foreign visitors, including 30 million annual pilgrims by 2030, up from around 8 million at present.
In the kingdom's first airport privatization in 2011, TAV, which operates 17 airports around the world, and Al Rajhi were awarded a build, transfer and operate contract for Medina's Prince Mohammad Bin Abdulaziz International Airport.
TAV has completed the buyout of construction conglomerate Saudi Oger's stake in the consortium operating the airport, leaving TAV owning 50 percent, ener said, adding that Oger was exiting the aviation business.
After dominating the Saudi construction market for years, Saudi Oger, owned by the family of Lebanese Prime Minister Saad al-Hariri, has been struggling, partly as a result of cuts in government spending and payment delays.
TAV was also interested in buying a stake planned for sale by Malaysia Airports Holdings in its Istanbul unit, which operates Turkey's second-biggest airport.
ener said TAV was waiting for Malaysia Airports to pick a bank to advise it on an auction process.
"Since Istanbul is our own base we are interested," he said. "Valuation is very important. If their expectation is too high we won't be there. If their expectation is fitting to market conditions we will be one of the candidates."
TAV was also bidding in the privatization of four Nigerian airports including Abuja and Lagos, he said, with a decision on the process expected after the end of June. (Editing by Andrew Torchia and Alexander Smith)
CNBC
...
Quote 2 :
Turkish airport operator TAV to operate 3 more airports in Saudi Arabia
Anadolu Agency
June/11/2017
Turkish airport operator TAV has signed a deal with Saudi Arabia’s civil aviation authority to operate three airports in the Gulf country in partnership with the Al Rajhi Group, the Turkish operator has announced.
TAV will operate airports in Buraydah in central Qassim province, the northwestern city of Ha’il and the western port city of Yanbu for 30 years alongside the Al Rajhi Group, according to a statement released on June 9.
“The number of airports we operate and passengers we serve will reach 17 and 110 million [respectively] with the Yanbu, Qassim and Ha’il airports,” TAV Chief Executive Officer Sani Sener said in the statement.
Sener said the company remains keen on utilizing different resources in different parts of the world, especially in developing countries.
The Yanbu, Qassim and Ha’il airports are expected to serve 11.5 million passengers with $400 million in investments in the construction of new terminals and service units, the statement said.
The construction of new terminals, which TAV will start after taking over all the airports, will be completed by 2020, it added.
Earlier in the day, Turkey’s Akfen said it had signed an agreement to sell its remaining 8.12 percent stake in TAV Airports to France’s Aeroports de Paris (ADP) for $160 million.
Hurriyet Daily News
...
Quote :
UPDATE 1-Turkey's TAV seeks $250 mln bank loan for Saudi airports
Tuesday, 16 May 2017 | 10:53 AM ET
DUBAI, May 16 (Reuters) - Turkey's TAV is in talks with banks to get the $250 million it needs to develop three airports in Saudi Arabia, the airport operator's president Mustafa Sani ener said on Tuesday.
TAV Airports Holding, in partnership with Al Rajhi Holding Group, was chosen to develop and operate Saudi Arabia's Yanbu, Qassim and Hail international airports.
ener said TAV was talking to Saudi banks, adding that Turkish company would use $100 million of its own equity.
Airports are one of several sectors Saudi Arabia is seeking to privatize as it aims to raise around $200 billion in order to diversify its economy in an era of lower oil prices.
The kingdom is expanding its airports as it expects to receive more foreign visitors, including 30 million annual pilgrims by 2030, up from around 8 million at present.
In the kingdom's first airport privatization in 2011, TAV, which operates 17 airports around the world, and Al Rajhi were awarded a build, transfer and operate contract for Medina's Prince Mohammad Bin Abdulaziz International Airport.
TAV has completed the buyout of construction conglomerate Saudi Oger's stake in the consortium operating the airport, leaving TAV owning 50 percent, ener said, adding that Oger was exiting the aviation business.
After dominating the Saudi construction market for years, Saudi Oger, owned by the family of Lebanese Prime Minister Saad al-Hariri, has been struggling, partly as a result of cuts in government spending and payment delays.
TAV was also interested in buying a stake planned for sale by Malaysia Airports Holdings in its Istanbul unit, which operates Turkey's second-biggest airport.
ener said TAV was waiting for Malaysia Airports to pick a bank to advise it on an auction process.
"Since Istanbul is our own base we are interested," he said. "Valuation is very important. If their expectation is too high we won't be there. If their expectation is fitting to market conditions we will be one of the candidates."
TAV was also bidding in the privatization of four Nigerian airports including Abuja and Lagos, he said, with a decision on the process expected after the end of June. (Editing by Andrew Torchia and Alexander Smith)
CNBC
...
Quote 2 :
Turkish airport operator TAV to operate 3 more airports in Saudi Arabia
Anadolu Agency
June/11/2017
Turkish airport operator TAV has signed a deal with Saudi Arabia’s civil aviation authority to operate three airports in the Gulf country in partnership with the Al Rajhi Group, the Turkish operator has announced.
TAV will operate airports in Buraydah in central Qassim province, the northwestern city of Ha’il and the western port city of Yanbu for 30 years alongside the Al Rajhi Group, according to a statement released on June 9.
“The number of airports we operate and passengers we serve will reach 17 and 110 million [respectively] with the Yanbu, Qassim and Ha’il airports,” TAV Chief Executive Officer Sani Sener said in the statement.
Sener said the company remains keen on utilizing different resources in different parts of the world, especially in developing countries.
The Yanbu, Qassim and Ha’il airports are expected to serve 11.5 million passengers with $400 million in investments in the construction of new terminals and service units, the statement said.
The construction of new terminals, which TAV will start after taking over all the airports, will be completed by 2020, it added.
Earlier in the day, Turkey’s Akfen said it had signed an agreement to sell its remaining 8.12 percent stake in TAV Airports to France’s Aeroports de Paris (ADP) for $160 million.
Hurriyet Daily News
...
