Sabiha Gökçen Airport, one of Istanbul’s major transportation hubs, is up for sale with a deal worth 4 billion dollars. Investors from Malaysia and the United Arab Emirates have made offers to purchase the shares of Malaysia Airports Holdings Berhad (MAHB).
As foreign investments in Turkey continue to increase, the potential new owners of Sabiha Gökçen Airport have garnered significant interest. Key players behind this massive deal include Malaysia government-backed Khazanah Nasional, the Employees Provident Fund (EPF), and New York-based Global Infrastructure Partners (GIP).
Details of the Investor Consortium
Under the agreement, Khazanah Nasional’s stake in MAHB will rise from 33% to 40%, and EPF’s share will increase from 8% to 30%. This will result in Malaysia holding a 70% stake in MAHB. The remaining 30% will be shared between the largest sovereign fund of the United Arab Emirates and GIP. An offer of 11 RM (2.3 dollars) per share has been made for Sabiha Gökçen Airport. Following the completion of the agreement, Malaysia Airports will be delisted from the Malaysian stock exchange.
Strategically Important Airport
With this significant investment, a vast network covering Kuala Lumpur and Istanbul Sabiha Gökçen airports will be established. Sabiha Gökçen Airport will continue to play a crucial role in the post-pandemic recovery process. In 2023, the airport handled 37.6 million passengers, making it one of the most important transportation hubs in the region.
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