According to the announcement made on the Competition Authority's website, the South Korean partner of the Eurasia Tunnel sold some of its shares to the Qatar Investment Authority from Qatar's state funds.
Qatar Investment Authority, one of the two largest state funds of Qatar, became a partner in one of the most important infrastructure investments of Istanbul by purchasing a portion of shares from the South Korean partners of the Eurasia Tunnel. According to the official website of the Competition Authority, the decision taken at the Board meeting on 8 August 2002 was published on some platforms and websites that provide live market data on 12 September at noon.
Yapı Merkezi and South Korean SK Group each had a 50 percent stake in Avrasya Tüneli İşletme İnşaat ve Yatırım A.Ş. (ATAŞ), which operates the tunnel. The Competition Authority has decided that there is no need for permission for the takeover.
In the decision published on the Competition Authority's website, SK HoldCo Pte. Ltd. and ultimately investing in Avrasya Tüneli İşletme İnşaat ve Yatırım A.Ş. through QH Oil Investments LLC.