Due to the financial bottleneck entered by the Italian Astaldi, the Chinese group sales talks of the 33 share of the percent on the Yavuz Sultan Selim Bridge have been subject to exchange rate adjustments.
Interviews between Astaldi, one of the partners of Yavuz Sultan Selim Bridge, and the Chinese consortium, which he discussed as part of 33 share sales, were blocked by discussions on tolls.
According to the news of Bloomberg's 4 source, Astaldi and his Turkish partner İçtaş are meeting with Chinese investors under the leadership of a group of China Merchants Group. The focus of the talks was on the sale of the 33 share in the Yavuz Sultan Selim Bridge of the Italian construction company Astaldi, which was stuck in cash. The potential sale of part of the shares of the Turkish partner İçtaş is also on the table.
Bloomberg says that all parties that are parties to the bridge sale demand the government to conduct the exchange rate adjustment on a quarterly basis every quarter. The parties are thus aiming to limit the impact of possible fluctuations in the Turkish Lira.
According to the contract, the Yavuz Sultan Selim Bridge toll, 1 is based on the dollar rate in January, converted into TL and this will be valid for a year Yav is the phrase.
At the Yavuz Sultan Selim Bridge, the toll is determined as 3 dollar + VAT for cars.
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In May, Astaldi stated that the investor meeting in May required an increase of 350 million euros for the capital increase and the sale of assets was on the agenda.
Another option at the table for Astaldi, which is forced by foreign currency based loans, is the transfer of shares to the Turkish partner İçtaş. Bloomberg, two sources, based on the news that these talks are clogged.