Thursday, 19 November 2009
Akfen Holding, which started its activities in 1976, has increased its share in TAV Airports Holding to 26 percent.
TAV Airports Holding Chairman Hamdi Akın sold his 14,166,267 shares to Akfen Holding for 4.28 Turkish Liras per share. Following the completion of the turnover, Hamdi Akın, who owns 94.92 percent of Akfen Holding, now has no direct share in TAV Airports Holding. Meanwhile, Akfen’s shares in TAV rose to 26.12 from 22.22 percent.
During the public offering of TAV, Akfen Holding dropped its shares in the company to 15.64 from 23 percent. Then by purchasing 14,821,875 shares held by Goldman Sachs the company increased its shares in TAV back to 22 percent.
Goldman Sachs, on Aug. 18, 2009, returned its 20 million shares in TAV to the construction companies Tepe Inşaat and Sera Yapı thereby reducing shares in the company to 18.3 percent. With this transaction, Tepe Inşaat's share in TAV rose to 26.26 percent. Goldman Sachs continued to sell its shares in TAV. On Aug. 25, the firm sold the 50 million shares it had in TAV, reducing its share in the company to 4.09 percent.
In October Hamdi Akın applied his 4,186,000 shares to the Istanbul Stock Exchange for trade exchange. He also announced he had no plans to sell shares in the short or medium term.
During the first nine months of the year, TAV raised its net profit to 75 million Turkish Liras, marking a 294 percent growth compared to same period last year. TAV’s net profit for the first nine months of 2008 was 19 million liras. The company’s total sales income also rose 29.6 percent to 1.46 billion liras. Operating income of the TAV also rose 55.3 percent during the same period to 211.6 million.
In 1976 Akfen, with its 10 companies and 30 subsidiaries, began activity in construction, contracting, tourism, foreign trade, insurance brokerage, natural gas distribution and commissioning, industrial plants, catering services, chocolate productions, and information and communication services.
