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

  • Strong financial performance for Wacker Neuson
    May 10, 2023
    Wacker Neuson is seeing a strong financial performance.
    Read More
  • Ferrovial loses control of Canada’s 407 Express Toll Road
    August 27, 2019
    Ferrovial has lost control of the 407 International highway in Canada, one of the Spanish group's star assets. The Supreme Court in the province of Ontario has ruled in favour of co-shareholder pension fund Canada Pension Plan Investment Board to buy another stake - 10.01% - in the highway. The shares are up for sale by another shareholder, Montreal-based global infrastructure engineering firm SNC-Lavalin. The court denied Ferrovial, which already has the largest shareholding at 43% in the highway, th
    Read More
  • Has the promised investment happened?
    July 10, 2012
    At the end of 2008 and the start of 2009, the world's banking system spiralled into crisis, triggered by a series of catastrophic blunders caused by bankers trying to create money from nothing. The result was to plunge the world's economy rapidly into recession. Having proved in effect that lead cannot be turned into gold, the bankers retired on fat pensions leaving governments to pledge huge sums to the banks and fill in the financial gaps.
    Read More
  • Peri buys majority stake in Kern Tunneltechnik
    December 14, 2023
    Peri is purchasing the shares of Kern Tunneltechnik from the WALO Group, based in Zurich.
    Read More

Highlighted Content