LONDON (ShareCast) - Aéroports de Paris (ADP) announced today that it will be acquiring a 38 per cent stake in the Turkish operator TAV for 874m dollars (557m pounds).

The offer price of 11.3 Turkish liras per share provides a 32% premium to the most recent closing price and values TAV at $2.3bn (£1.5bn).

ADP noted that the acquisition forms part of its strategy to invest in international airports serving above 10m passengers and that “this partnership would create one of the largest airport alliances in the world, managing directly or indirectly around 180m passengers in 37 airports”.

ADP was trading down 0.56% at €60.03 in mid-morning trade in Paris.

JM

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