Deals
Operators of Turkey’s Giant Airport Pull Plans to Sell Stake
- Concession owners end contract with Lazard to advise on plan
- Hub, which opened in April, spans area larger than Manhattan
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Owners of a concession to operate Istanbul’s new $11 billion airport abandoned a plan to potentially sell a stake in the venture, according to people with knowledge of the matter.
The four construction firms also terminated a mandate given to Lazard Ltd. to provide a valuation of the airport and manage discussions with possible buyers, the people said, asking not to be identified because the process is confidential. It is too early to sell a stake in the consortium, IGA Havalimani Isletmeleri AS, because the airport only started operating in April, one of the people said.