MAHB to sell small stake in Istanbul Sabiha?

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) plans to sell a minority stake in its Istanbul unit, which operates Turkey’s secondbiggest airport, say people familiar with the matter.

The group was seeking an investor for Istanbul Sabiha Gokcen International Airport (ISG) and plans to maintain control of the company, the people said.

MAHB was also talking to banks about a possible advisory role on the deal, they said.

The local airport operator planned to start a €130 million (RM614 million) expansion of ISG this year as it nears capacity, said Datuk Azmi Murad, the airport’s executive director, in an interview last month.

The airport would add eight million passengers a year to its current capacity of 33 million once a new boarding hall is completed next year, he said.

MAHB in 2013 agreed to raise its holding in ISG to 60 per cent by acquiring the 40 per cent stake held by Indian partner GMR Infrastructure Ltd for €225 million. It bought the remaining 40 per cent from Turkey’s Limak Holding in 2014 for €285 million. Bloomberg