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

  • Marangoni expanding Turkish market presence
    March 7, 2018
    Tyre specialist Marangoni is making a strategic move of its Turkish operations to Istanbul. This development is aimed at improving the company’s share of the Turkish tyre retreading market. The Italian company is keen to further boost its worldwide market share. Marangoni Retreading Systems has announced a significant development for its Turkish business interests with the new warehouse and head office located in the country’s commercial centre, Istanbul. This move has been managed through its Turkish sub
    Read More
  • Volvo CE finalises truck business deal with Terex
    June 2, 2014
    Volvo Construction Equipment has now finalised its acquisition of the hauler business from Terex. The purchase consideration amounted to US$160 million on a cash and debt-free basis. The deal includes the main production facility in Motherwell, Scotland and two product ranges that offer both rigid and articulated haulers. It also includes the distribution of haulers in the US as well as a 25.2% holding in Inner Mongolia North Hauler Joint Stock Co (NHL), which manufactures and sells rigid haulers under the
    Read More
  • Fluor and ACS Infrastructure Canada win Gordie Howe Bridge deal
    October 2, 2018
    Bridging North America will build the Gordie Howe Bridge, named after a famous Canadian ice hockey player and leading scorer A partnership including Fluor Canada and ACS Infrastructure Canada has been chosen to design, build, finance, operate and maintain the Gordie Howe International Bridge project. The client, Windsor-Detroit Bridge Authority (WDBA), announced the appointment of Bridging North America group in the Canadian city of Windsor, across the Detroit River from Detroit in the US state of Michig
    Read More
  • Turkey is investing in new motorway and bridge projects
    May 29, 2013
    Turkey is benefiting from new motorway and bridge projects constructed along the BOT model - Gülay Malkoç. Looking at Turkey’s economic development, road construction plays a crucial role. The investment in Turkey is becoming increasingly attractive for both local and foreign investors. There are significant huge road investments and projects being made in Turkey at present, compared with EU countries where the roads need mostly repair and maintenance. According to the approach of Turkey’s Ministry of Trans
    Read More

Highlighted Content