Turkey’s Akfen Holding has agreed to sell its 40% stake in Mersin International Port to Australia-based IFM Investors for $869mn.
An agreement on the sale of a 40% stake in the port to Global InfraCo SP NEUM SLU, owned by IFM Investors, was signed on July 28, Tekfen said on July 31 in a filing with Borsa Istanbul.
The Turkish conglomerate will retain a 10% stake in the port while Port of Singapore Authority (PSA) will retain control of the remaining 50%.
Akfen said it had raised a total of $1.23bn through stake sales in its subsidiaries in 2017. Earlier this year, the holding company sold a 33% stake in its renewable energy unit to the EBRD and IFC for $200mn. Moreover, Akfen in June divested an 8.1% stake in Turkey’s largest airport operator TAV to Airports de Paris for $160mn.
The Akfen-PSA consortium won a concession tender back in 2007 with its $755mn bid to operate Mersin International Port for 36 years.
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