Istanbul airport stake sale not concluded: GMR Infra

Malaysia Airports Holdings and TAV Havalimanlari are in separate talks with GMR to buy its 40% in Sabiha Gokcen airport

GMR Infrastructure on Friday said a deal to sell its 40 per cent stake in Istanbul’s Sabiha Gokcen airport was in progress and not concluded yet, after a local newspaper reported it had sold the stake for euro 220 million ($302.58 million).

Malaysia Airports Holdings and TAV Havalimanlari are in separate talks with GMR to buy its 40 per cent in Sabiha Gokcen airport, sources told Reuters last week.

A newspaper report on Friday, citing a person familiar with the development, said GMR had sold its stake in the airport to TAV.

GMR, whose business interest include airport, power and roads, said in a statement on Friday the “right of first refusal process in respect of the sale of stake is in progress” and the deal was not concluded.