TAV has completed the share sale at Medina Airport
TAV Havalimanları Holding has successfully completed the sale of a portion of its shares in its subsidiary operating Medina Airport in Saudi Arabia. According to an announcement made to the Public Disclosure Platform (KAP) last night, the company finalized the sale process, as previously disclosed in July. As a result of the sale, a one-time income of over 70 million euros will be recorded in the third-quarter financial statements.
TAV had reached an agreement in July to sell a 24% stake in Tibah Airports Development Company, which operates Medina Airport, to its fellow shareholder Mada International Holding for 135 million dollars.