GMR Infrastructure Ltd of India said the deal to sell its 40% holding in Istanbul's Sabiha Gokcen airport was still in progress. The statement came after a local newspaper said the firm had already sold the stake for €220 million ($302.58 million), according to Reuters.
Sources said TAV Havalimanlari and Malaysia Airports are in separate discussions with GMR to purchase its 40% stake in Sabiha Gokcen airport. This is one of the two airports in Istanbul, the report said.
Citing a person familiar with the transaction, The Mint reported on Friday that GMR had sold the said aiport stake to TAV. The paper also said the deal was to be announced after terms are arranged with two other shareholders in the airport, the report explained.
Malaysia Airports holds 20% of the airport. Turkish company Limak owns 40% of the said airport. These two firms, together with GMR, acquired operating rights to Sabiha Gokcen terminal for 20 years for €1.93 billion ($2.6 billion) in 2007, Reuters reported.
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