Aeroports de Paris Agrees to Acquire 38% of Turkey’s TAV

Aeroports de Paris, operator of the French capital’s airports, agreed to buy a 38 percent stake in Turkish counterpart TAV Havalimanlari Holding AS for $874 million, the French operator’s largest purchase abroad.

The agreement with TAV’s three biggest shareholders also includes a separate acquisition of a 49 percent stake in a construction company, TAV Yatirim Holding AS, for $49 million, Paris-based ADP said today in a statement. ADP and TAV will run 37 airports serving 180 million passengers worldwide, it said.