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

  • New bridges planned for Vietnam
    July 7, 2020
    New bridge projects are being planned for Vietnam.
    Read More
  • LiuGong buys into Chinese piling machine firm Jintai
    December 12, 2017
    Guangxi Liugong Machinery (LiuGong) has bought a controlling interest in Chinese piling machine specialist Shanghai Jintai Engineering Machinery (Jintai). The US$85.24 million deal has seen LiuGong buying 51% of Jintai from its parent, by Guangxi Liugong Group. LiuGong Group, parent company of LiuGong, has owned a 51% share of Shanghai Jintai Engineering Machinery since the second quarter of 2011. At that time LiuGong Group signed a strategic cooperation agreement with Shanghai Mechanical and Electrical
    Read More
  • Rolls Royce and Deutz agreeing engine deal
    December 15, 2023
    Rolls Royce and Deutz are agreeing an engine asset exchange deal.
    Read More
  • Indonesia tolled highway contract awarded
    January 16, 2017
    Construction firm Wijaya Karya (Wika) is heading the consortium that will build the Serang-Panimbang toll highway in Indonesia’s Banten province. The 40 year concession package for the US$825.85 million project was awarded to the state-owned construction firm and its two partners by the Toll Road Regulatory Agency. Wika has a 90% stake in the consortium, with the remainder held by its partners, Jababeka and Pembangunan Perumahan, which each have a 5% share. The construction work will be carried out in three
    Read More

Highlighted Content