Turkish bridge stake sale for Astaldi

Italian firm Astaldi is selling its stake in a major Turkish bridge link.
By MJ Woof February 21, 2020 Read time: 1 min
© Olga Kutay | Dreamstime.com

The Italian civil engineering firm Astaldi is selling its stake in the concession for the Third Bosporus Bridge. The company has agreed the deal for its share of the important bridge link with its Turkish partner ICTAS.

Under the terms of the deal, Astaldi will benefit to the tune of US$215 million. The financial agreement should be completed by late 2023. Meanwhile ICTAS is in discussions for the sale of the whole concession package for the bridge. A group of Chinese firms is looking to take over the concession for the link. ICTAS is the leading partner for the bridge at present with 80% of the holding, while Astaldi holds the remaining 20%.

Finance & Funding

For more information on companies in this article

Related Content

  • Chinese construction equipment manufacturers increasing export focus
    December 2, 2013
    Chinese firms are growing their expertise in terms of products and international sales – Mike Woof reports China’s major off-highway construction equipment manufacturers have grown in a relatively short period and now number amongst the largest players in the sector. Some of the key firms are looking to boost exports and are providing tough competition, particularly in the emergent markets. Best known for its wheeled loaders, LiuGong has been developing its excavator range, with production of the E
    Read More
  • Colombian highway assets for sale by Sacyr
    November 15, 2023
    Stake in Colombian highways may be put on sale by Sacyr.
    Read More
  • Sandvik makes strategic Chinese acquisition
    May 2, 2012
    Sandvik Mining and Construction has bought Shanghai Jianshe Luqiao Machinery Co (SJL), a major Chinese manufacturer of crushing and screening equipment, which sells its products under the SHANBAO brand.
    Read More
  • Turkish tunnel tender underway
    May 9, 2016
    The tender process is underway in Turkey for a major tunnel project. The package of works is for the planning, project and engineering design for a new three-storey underwater tunnel that is planned for Turkey’s commercial centre, Istanbul. Named the Big Istanbul Tunnel, the route is expected to run under the Bosporus. The tunnel is anticipated to feature two storeys carrying vehicle traffic, with a third carrying a rail link. This would cut journey times to just 14 minutes. The engineering work is expected
    Read More

Highlighted Content