Akfen Gains in Istanbul After Report on TAV Insaat Contract

Akfen Holding AS (AKFEN), a Turkish builder, climbed in Istanbul after Reuters reported Akfen’s unit TAV Insaat and partners may win a contract valued at about $3 billion in Abu Dhabi.

Akfen rose 3.4 percent to 9.62 liras at the 12:30 p.m. midday close, in the biggest increase since April 13. A group including Arabtec Holding PJSC, TAV Insaat and Consolidated Contractors Co. may win the contract for the expansion of Abu Dhabi’s international airport, Reuters reported, citing people it didn’t identify.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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