Turkish bridge deal finalised

A key Turkish bridge asset deal has been finalised.
By MJ Woof March 30, 2020 Read time: 1 min
The concession for Turkey’s Third Bosporus will now be handled 100% by ICTAS - image © courtesy of ICTAS

An agreement has been finalised over the sale of a share in a key Turkish bridge connection. The Italian firm Astaldi is to sell its share in the concession package for the Third Bosporus ridge to Turkish firm ICTAS.

The two companies set up a partnership agreement to build the bridge and then manage the concession to operate the link. However, ICTAS is now to operate the concession on its own. The price agreed was US$315 million. Astaldi will be paid $215 million by ICTAS as the agreement includes $100 million in compensation.

Finance & Funding

Related Content

  • Russian road deals
    February 24, 2012
    A notable partnership deal looks set to provide funding for key Russian highway projects. A memorandum of co-operation has been signed between the state-owned Russian Highways (Avtodor) and the European Bank for Reconstruction and Development (EBRD).
    Read More
  • Russia’s new high speed highway – with Italian investment
    January 30, 2020
    Italian investment will help to build a major high-speed highway in Russia
    Read More
  • STRABAG’s German highway assets increased
    October 4, 2018
    STRABAG has increased its stake in the A8 motorway operator PANSUEVIA. This share has been boosted from 50% to 100%. PANSUEVIA operates the autobahn stretch that runs between Ulm and Augsburg in the south of the country. SRABAG purchased the 50% stake in PANSUEVIA that was previously held by HOCHTIEF. As a result, STRABAG is now the 100% owner of the concession company operating the Ulm–Augsburg section of the A8 autobahn. Both parties agreed not to disclose the purchase price however. This section of the
    Read More
  • Croatia rejects complaints over Peljeski Bridge tender
    April 6, 2018
    Croatia’s public procurement body has rejected complaints by all three international consortia over a winning low tender for the Peljeski bridge. Bids for construction of the four-lane 2.4km bridge were submitted in the middle of last year. The bridge will connect Croatian territory by traversing the Adriatic Sea’s Mali Ston Bay. Vehicles must currently head from Croatia into Bosnia to re-enter a peninsula that is Croatian territory. Croatia’s State Commission for Control of Public Ordering Processes
    Read More

Highlighted Content