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TAV plans IPO for Havas in 2011

12-Aug-2010 11:21 AM

Turkey’s TAV CEO, Sani Sener, stated the company plans to sell shares in ground-handling brand, Havas, in an IPO in 2011 (Bloomberg, 11-Augp-2010). Partners in the brand, including HSBC Holdings Plc (28.3%) and Is Girisim Sermayesi Yatirim Ortakligi AS (6.7%), have all agreed to sell some of their stake in the offering. North Hub Services, of which Havas has a 50% stake, plans to start services in Tallinn in Oct-2010, Stockholm and Vilnius in 2011 and Copenhagen in 2012. Havas agreed to purchase the stake in the company in Apr-2010 for EUR3.3 million.