DUBAI, May 16 (Reuters) - Turkish airport operator TAV
TAVHL.IS
is in talks with banks to obtain $250 million of financing needed for the development of three airports in Saudi Arabia, the company's president Mustafa Sani ener said on Tuesday.
TAV Airports Holding, in partnership with the local Al Rajhi Holding Group, was selected over the last couple of months to operate Saudi Arabia's Yanbu, Qassim and Hail international airports for 30 years.
Meanwhile, the Turkish company has completed the buyout of construction conglomerate Saudi Oger's stake in the consortium behind Saudi Arabia's Medina international airport, ener told reporters.
Saudi Oger had a 33.3 percent stake in the consortium, Tibah Airports Development Co; TAV has signed an agreement to buy half of that stake and Al Rajhi is buying half, ener said. That will leave TAV owning 50 percent of the consortium.
(Reporting by Tom Arnold; Writing by Davide Barbuscia; Editing by Andrew Torchia) ((Davide.Barbuscia@thomsonreuters.com;))
TAV Airports Holding, in partnership with the local Al Rajhi Holding Group, was selected over the last couple of months to operate Saudi Arabia's Yanbu, Qassim and Hail international airports for 30 years.
Meanwhile, the Turkish company has completed the buyout of construction conglomerate Saudi Oger's stake in the consortium behind Saudi Arabia's Medina international airport, ener told reporters.
Saudi Oger had a 33.3 percent stake in the consortium, Tibah Airports Development Co; TAV has signed an agreement to buy half of that stake and Al Rajhi is buying half, ener said. That will leave TAV owning 50 percent of the consortium.
(Reporting by Tom Arnold; Writing by Davide Barbuscia; Editing by Andrew Torchia) ((Davide.Barbuscia@thomsonreuters.com;))
