TAV Construction
TAV Construction , fully TAV Tepe Akfen Yatırım İnşaat ve İşletme A.Ş. (TAV Tepe Akfen Investment Construction and Operation JSC), based in Istanbul is a Turkish construction company, originally in 1997 as Tepe Akfen Ventures (TAV) as a joint venture of Tepe Construction (Tepe İnşaat Sanayi AS) and Akfen Construction (Akfen İnşaat Turizm ve Ticaret AS) for the construction of Istanbul Ataturk Airport . After completion of the airport, the construction division was spun off as an independent company in 2003 and has since been operating internationally as TAV Construction.
activities
TAV Construction has long specialized in new construction projects in the airport sector, but today it operates as a general construction group with construction projects in Turkey, but also in the entire Arab region (Egypt, Qatar, United Arab Emirates, Tunisia, Libya and Bahrain). This results in a project volume of over 10 billion US dollars (2010).
The sister company TAV Airports Holding operates Istanbul Ataturk Airport and a number of other airports and has been listed on the Istanbul Stock Exchange since 2007.
Shareholder relationships
On March 12, 2012 it was announced that the French airport operator ADP had acquired a total of 38% of TAV Airports Holding for US $ 874 million (with a valuation of the company of US $ 2.3 billion); at the same time ADP is taking over 49% of TAV Construction for US $ 49 million. The previous majority shareholders will retain a total of 18% in TAV Airports and 51% in TAV Construction.
Individual evidence
- ↑ Analyst presentation of March 1, 2012. (pdf; 888 kB) ADP, accessed on March 12, 2012 (English).