TAV Buys 35% of Havas From HSBC, Is Girisim for 80 Million Euros

TAV Havalimanlari Holding AS (TAVHL), a Turkish airport operator majority-owned by Aeroports de Paris, bought back 35 percent of ground-handler Havaalanlari Yer Hizmetleri AS from an HSBC Holdings Plc (HSBA) unit and Is Girisim Sermayesi Yatirim Ortakligi AS (ISGSY) for 80 million euros ($100.2 million).

TAV, which sold the stake to HSBC Investment Bank Holdings Plc and Is Girisim in 2009 for a total of 102 million euros, signed an agreement with the sellers today, it said in a filing with the Istanbul Stock Exchange. TAV agreed to pay 15.2 million euros to Is Girisim for its 6.7 percent stake as part of the deal, Is Girisim said in a separate statement.

To contact the reporter on this story: Ercan Ersoy in Istanbul eersoy@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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