MAHB completes purchase of Istanbul airport at €279.23m

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KUALA LUMPUR (Jan 5): Malaysia Airports Holdings Bhd (MAHB) will now pay €279.23 million for the remaining 40% stake in Sabiha Gokcen International Airport (ISG) and LGM Havalimani Isletmeleri Ticaret ve Turizm (LGM), 2% less than the original sum of €285 million.

In a statement today, the airport operator said it has completed the acquisitions from the Limak group.

"The total cash consideration for the acquisitions was adjusted in accordance with the provisions of the SPA (sales and purchase agreement) from €285 million to €279.23 million," MAHB said in a filing with Bursa Malaysia.  

MAHB had on Dec 23, 2014, received shareholders approval to acquire the 40% stake in ISG and LGM, which is the commercial arm of ISG.

As at 3.40pm, shares of MAHB were down 3.28% at RM6.48, bring a market capitalisation of RM9.01 billion.