Sabiha Gökçende partners are changing

Sabiha Gökçende partners are changing: While one of the three partners of Sabiha Gökçen Airport, Indian GMR Infrastructure, accelerates negotiations to sell its 40 percent share in the company, Malaysian Malaysia Airports Holdings and TAV Airports Holding, which currently own 20 percent of the shares, are interested in GMR's shares.
Limak Investments also has a 40 percent stake in Sabiha Gökçen, Istanbul's second airport.
A well-informed source told Reuters, "Surprisingly, TAV is interested in the 40 percent share of GMR in Sabiha Gökçen and is holding talks on this issue."
Limak Investment, GMR and TAV did not comment on the issue, the authorities of Malaysia Airports Holdings could not be reached.
Another source close to the process said, “GMR has long been evaluating options regarding its shares in Sabiha Gökçen. However, this process has accelerated due to the increase in Sabiha Gökçen's after-tax profit in the last few months, especially in the July-September period. Instead of a third partner joining the company, existing partners Limak or Malaysian Airports can buy GMR's shares. "Although there is no clear information about what the sales price will be, it can be 6-7 times the EBITDA, which means a satisfactory figure for GMR."
Sabiha Gökçen's number of passengers increased by 24 percent in the January-October period to 15.7 million. 10 million of this number are domestic passengers and 5.7 million are international passengers.
RECEIVED IN 2007
Malaysia Airports, Limak and GMR partnership, acquired the operating rights of Sabiha Gökçen Airport in 2007 for 20 billion Euros for 1.93 years. The consortium took over the airport in 2008 and started operations as of October 2009.
Limak, one of the partners of Sabiha Gökçen, is also a member of the Cengiz-Kolin-Mapa-Kalyon Joint Venture Group, which won the tender held on May 3 for the new airport to be built in Istanbul with a lease price of 25 billion Euros plus VAT for 22.152 years.
TAV Airports, in which the French ADP is the largest shareholder, has the right to operate Ataturk Airport, which is the largest airport in Istanbul, until 2021. TAV Airports ranked third in the tender held for the third airport.




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