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

  • Bridge of international accord from Russia-China
    May 29, 2018
    A new bridge project joining China and Russia is a sign of international accord between the two nations – Mike Woof writes A new bridge spanning what China calls the Heilongjiang River and which is known as the Amur River in Russia, is a clear sign of an important international accord between the two countries. Discussions over the bridge project were first started between China and Russia in the 1980s, with both nations seeing many changes in leadership since that time. But while the political discussion
    Read More
  • Foreign investors eye expansion into Russian road-building industry
    March 18, 2016
    The Russian road sector looks set for international investment - Eugene Gerden writes Amid the ongoing recovery of the Russian economy from the effect of Western sanctions, foreign investors are considering accelerating their activities in the Russian road building industry. In recent months the establishment of joint ventures with local road building companies has become no longer as profitable for foreign investors as it was in the past. As a result the majority of foreign investors are considering
    Read More
  • Consortium wins St Petersburg bypass contract
    February 27, 2012
    A civil engineering tender worth U$4.73 billion for work in Saint Petersburg, Russia, has been awarded to a consortium of Russian, Italian and Turkish companies.
    Read More
  • Strong investment growth in the world’s highways was a key driver in John Deere and Wirtgen coming together
    December 21, 2017
    John Deere’s recent acquisition of the Wirtgen Group was driven by the way in which two leading equipment manufacturers could come together with no product overlap and target strong investment growth in the world’s highways sector
    Read More

Highlighted Content