Turkish operator TAV Airports and consortium partner VPE Capital have signed an agreement to acquire 100% of the shares in Kazakhstan’s Almaty International Airport.

The share purchase includes the buyout of the airport and associated businesses in a $415 million deal.

TAV Airports, of which Groupe ADP owns 46.12% of the capital, will take a share in the consortium totalling no less than 75%.

On completion of the share transfer, TAV Airports will boost its global network of airports to 15.

It currently operates at Antalya, Ankara Esenboğa, Izmir Adnan Menderes, Milas-Bodrum and Gazipaşa-Alanya in Turkey; Tbilisi and Batumi in Georgia; Monastir and Enfidha-Hammamet in Tunisia; Skopje and Ohrid in Macedonia; Medina Airport in Saudi Arabia; Zagreb in Croatia; and Riga in Latvia.

ASIA-EUROPE TRANSIT HUB

Located in southeast Kazakhstan, Almaty Airport occupies an important strategic juncture on China’s ‘One Belt One Road’ project connecting China to western Asia.

Sani Şener, President & CEO, TAV Airports said: “We’re happy to add Almaty Airport, which is a main transit hub between Asia and Europe, to our portfolio.

“Kazakhstan is the largest country in the region – both geographically and economically – and Almaty is the largest city in the country controlling 20% of Kazakhstan’s GDP.

“We believe there’s a significant potential for growth in Almaty Airport, and drawing upon our extensive know-how, we’ll work towards realising this potential to the fullest.”

Almaty Airport served 6.4 million passengers in 2019 – a 13% rise compared to the previous year.

The main carriers using the airport are Air Astana, Bek Air, SCAT Airlines and Qazak Air.

Land-locked Kazakhstan accounts for roughly 60% of Central Asia’s GDP.