Aéroports de Paris Group completes purchase of stake in TAV

France's Aéroports de Paris Group completed (16-May-2012) the acquisition process of 38% of TAV Havalimanları Holding (TAV Airports) and 49% of TAV Yatırım Holding (TAV Investment, owner of TAV Construction, an unlisted company) on 16-May-2012. The selling shareholders, Akfen Holding, Tepe Đnsaat Sanayi and Sera Yapı Endüstrisi ve Ticaret entered into a share purchase agreement regarding the acquisition of such stake on 11-Mar-2012. Post transaction the ownership structure of TAV Airports is as follows:

• Aéroports de Paris Group: 38.0% from 0% prior to transaction;
• Tepe Đnsaat Sanayi: 8.1%, down from 26.1%;
• Akfen Holding: 8.1%, down from 26.1%;
• Sera Yapı Endüstrisi ve Ticaret:2.0%, down from 4.0%;
• Other Non-Floating: Maintained at 3.5%;
• Free-Float: Remains at 40.3%.

The board of directors is composed of three members appointed by Aéroports de Paris Group, three members appointed jointly by Tepe and Akfen, four independent members, and a CEO to comprise a total of 11 members. Đbrahim Süha Güçsav, Önder Sezgi and Ahmet Ersagun Yücel have resigned from the board and the board has resolved to appoint Pierre Graff, François Rubichon and Laurent Galzy to the vacant seats. Hamdi Akın will continue to serve as chairman of the board. Pierre Graff will be appointed deputy chairman and Mustafa Sani Sener will remain as member of the board, president and CEO. Seda Akkus Tecer will fill the vacancy left by the resignation of statutory auditor Belgin Berker on 16-May-2016. [more - original PR]