M'sia Airports ups stake in Istanbul airport
It acquires 40% stake from Indian partner GMR, blocking Turkish rival
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Istanbul
MALAYSIA Airports Holdings Bhd said it plans to take majority control of its venture running Istanbul's second-biggest airport, thwarting an investment in the facility by Turkish competitor TAV Havalimanlari Holding AS.
Malaysia Airports agreed to raise its holding in Sabiha Gokcen International Airport AS to 60 per cent by acquiring the 40 per cent stake currently held by Indian partner GMR Infrastructure Ltd for 225 million euros (S$390 million), the Subang-based company said in a stock exchange filing on Monday. Limak Holding AS, an Ankara-based builder, holds the remaining 40 per cent.
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