TAV sells 15 percent of airport in Tunisia
African Manager

Turkish airport operator TAV has signed an accord with the International Finance Corporation, or IFC, the private-sector financing arm of the World Bank Group, to sell 15 percent of its Tunisian unit for 28 million Euros.

 TAV will get the proceeds from the sale next month, the company said in a filing with the Istanbul Stock Exchange on Tuesday. The capital investment is expected to foster the sustainable development of Tunisia’s tourism industry, which is one of the key industries in the country’s economy.

"IFC’s partnership in TAV Tunisia proves that TAV has become a robust brand in global markets with its financial and operational capacity," said Sani Şener, chief executive officer of TAV Airports Holding. "We are proud to be cooperating with a World Bank amid the current challenging market conditions. I expect we will create a noteworthy synergy with the IFC."
TAV’s activities in Tunisia include upgrading and managing operations of the airport in Monastir as well as the financing and operations of a new airport in Enfidha. TAV will operate these two airports for 40 years. Construction of Enfidha Airport, which is expected to create direct and indirect job opportunities for nearly 20,000 people, is nearing completion. The TAV Tunisia Project, the first public-private-partnership airport project in North Africa, is expected to be a model for similar partnerships in Tunisia and neighboring countries.

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