TAV Airports signs agreement to purchase Almaty Airport
TAV Airports signs a share purchase agreement to buy Almaty Airport, the main gateway of Kazakhstan and an important junction in the modern ‘Silk road’.
TAV Airports, a member of Groupe ADP, has signed a share purchase agreement to acquire 100 per cent of the shares of Almaty Airport, together with its consortium partner VPE Capital.
Almaty Airport will be the 15th airport in TAV’s global network.
The agreement comprises the acquisition of the airport and associated businesses for $415 million. TAV Airports’ share in the consortium will be no less than 75 per cent and the share transfers will take place upon the completion of all legal prerequisites and procedures.
Located in the southeast of the country and an important stop on the ancient Silk Road, Almaty is a strategical junction along the ‘One Belt One Road’ project; connecting China-Central to West Asia.
Kazakhstan leads Central Asia in economic growth and generates approximately 60 per cent of the region’s GDP.
TAV Airports President and CEO, Sani Şener, said “We’re happy to add Almaty Airport, which is a main transit hub between Asia and Europe, to our portfolio. Almaty is strategically located on the modern Silk Road, established from China to Europe and Africa through air transport. Kazakhstan is the largest country in the region – both geographically and economically – and Almaty is the largest city in the country controlling 20 per cent of Kazakhstan’s GDP. We believe there’s a significant potential for growth in Almaty Airport and we’ll work towards realising this potential to the fullest.”