IC Investment Holding, the company that holds the operating rights of the Yavuz Sultan Selim Bridge, also known as the third bridge among the people, until 2027, stopped its sales negotiations with Chinese investors.
According to Bloomberg, IC Investment Holding, the company that holds the operating rights of the Yavuz Sultan Selim Bridge until 2027, has stopped talks with Chinese investors.
China Merchants Expressway Network & Technology Holdings, a subsidiary of China Merchants Group, has been in talks to buy 2019 percent of the bridge business for approximately $51 million since 689, along with a consortium it has formed with five other investors.
The success of the deal was attributed to the restructuring of a $2013 billion loan used to finance the bridge in 1,6.
DISPUTE REGARDING THE TERMS OF RESTRUCTURING
Disputes over the exact terms of this refinancing, supported by various banks including the Industrial & Commercial Bank of China, Bank of China and China Merchants Bank, were reportedly instrumental in stalling the talks.
The shares of the 2016 kilometer Yavuz Sultan Selim Bridge, which has been in operation since 1,4, were sold to IC Investment by the Italian Astaldi, who built the bridge.
The talks between the Turkish company and the Chinese were postponed last year due to travel problems between Turkey and China due to the corona virus.
The tender for the Third Bridge and Northern Marmara Motorway was held in 2012, and IC İçtaş İnşaat and Italian Astaldi won the tender with an investment operation period of 10 years, 2 months and 20 days. The foundation of Yavuz Sultan Selim Bridge was laid with a ceremony on 29 May 2013. The bridge was put into service in August 2016.
Asaldi, who has been going through a difficult economic process for a long time, declared a concordat in Italy in September 2018. One year after the transfer of Asaldi's shares, sales negotiations with the Chinese began.