ALMATY, Kazakhstan (TCA) — Turkey’s TAV Airports on May 8 said it signed a share purchase agreement to acquire 100% of the shares of Kazakhstan’s Almaty Airport, together with its consortium partner VPE Capital. The agreement comprises the acquisition of the airport and associated businesses for 415 million USD. TAV Airports’ share in the consortium will be no less than 75% and the share transfers will take place upon closing with the completion of all legal prerequisites and procedures.
Located in the southeast of Kazakhstan and an important stop on the ancient Silk Road, today Almaty is a strategical junction along the One Belt, One Road project, connecting China to Central and West Asia.
Almaty Airport, the main gateway of Kazakhstan, will be the 15th airport in TAV’s global network.
“We’re happy to add Almaty Airport, which is a main transit hub between Asia and Europe, to our portfolio,” said TAV Airports President & CEO Sani Şener. “Almaty is strategically located on ‘the modern Silk Road’, established from China to Europe and Africa through air transport. Kazakhstan is the largest country in the region — both geographically and economically — and Almaty is the largest city in the country controlling 20% of Kazakhstan’s GDP. We believe there’s a significant potential for growth in Almaty Airport, and drawing upon our extensive know-how, we’ll work towards realizing this potential to the fullest.”
The base of Kazakhstan’s flag carrier Air Astana, Almaty Airport served 6.4 million passengers in 2019, with a 13% increase compared to the previous year. Bek Air, SCAT Airlines and Qazak Air also use Almaty as their base. In 2018 the airport served 58K cargo (70% of all cargo in Kazakhstan) with substantial increase potential.
TAV Airports provides integrated services in all areas of airport operations, with a global footprint at 100 airports in 30 countries. A member of Groupe ADP, TAV Airports is part of the leading airport management platform globally that served 218 million passengers in 2019. Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security and commercial area management. The company is quoted on Istanbul Stock Exchange.