Meinl Airports International Ltd.

Meinl Airports International - first phase acquisition of 10.1% in Turkish airports operator TAV Airports Holding

Operation of IstanbulÂ’s AtatĂĽrk airport and further 6 airports in Turkey, Tunisia and Georgia Total initial investment of EUR 190 million TAVÂ’s owners welcome participation of airport experts

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merger, acquisition and takeover/Participation

St, Helier Jersey (euro adhoc) - Jersey, 12 November 2007 - Meinl Airports International Ltd. ("MAI") will acquire a strategic stake of initially 10.1% in one of the world´s leading airports operators, the Turkish based TAV Havalimanlari Holding A.S. ("TAV Airports" or "TAV"). The participation is underlined by a seat in TAV´s board.

TAV has the right to operate 7 airports in the region, including Istanbul´s Atatürk Airport, one of Europe´s largest airports. TAV handles a total of more than 30 million passengers annually and total revenues in 2006 exceeded EUR 400 million. MAI is initially investing a total of around EUR 190 million, and taking the next decisive step in its expansion.

TAV´s President and CEO, Dr. M. Sani Sener welcomes the investment by MAI: "We are extremely pleased to have a strategic partner as Meinl Airports, with acknowledged international airports' expertise. With one airport in Russia and plans for massive expansion in Eastern Europe, Meinl Airports is a partner of significant strategic importance, particularly in the light of TAV's planned future growth in the region. We are in a position to make the best possible use of the available synergies."

MAI will buy 10.1% of TAV, with a possibility to acquire a further 4% - further increase intended

MAI´s participation in TAV is initially 10.1%, with a total investment of approximately EUR 190 million. MAI gets also a possibility to acquire a further 4% in TAV. Roman Himmler, Chairman of Meinl Airport Managers Ltd: "The stake in TAV is a major step for the future development of MAI. In a single move, we get access to 7 airports in our target region Central and Eastern Europe and other aviation growth markets. We can envisage accumulating a larger strategic position in TAV further. Through the strategic cooperation agreement with TAV, MAI is acting as a strategic investor, takes initially one seat on TAV´s board and will thereby influence the strategic decisions in TAV." MAI and TAV also are open to realise new projects jointly as co-developers and co-investors in the future.

Istanbul´s Atatürk Airport - TAV´s flagship, with 21 million passengers in 2006

TAV´s flagship airport - and now MAI´s as well - is Istanbul´s Atatürk Airport. In 2006 it handled 21 million passengers, making Atatürk one of Europe´s busiest airports. Double-digit passenger growth is expected in coming years: Deutsche Bank´s equity research report estimated that passenger numbers would reach 37 million in 2010.

Ankara und Izmir - 2 further major Turkish airports with strong business growth

TAV is also the operator of two other Turkish airports - in Ankara (4.5 million passengers in 2006) and Izmir (1.5 million passengers in 2006). Deutsche Bank also predicts strong dynamic passenger growth for these airports in the coming years.

Tunisia and Georgia - markets of the future

In Georgia, TAV owns a 60% stake in the airports of Tbilisi and Batumi with an operating concession until at least 2027. The new Tbilisi airport, with a total capacity of 2.8 million passengers per annum, commenced operations in February 2007. Batumi Airport, with an annual passenger capacity of 562,500 per annum, started operations at the end of May 2007.

In 2007 TAV Airports also received the concession for development and operation of two Tunisian airports, with operating licences for 40 years. Operations in Monastir are scheduled to begin in 2008, and completion of Enfidha is planned for 2009. More than 5 million passengers for the two airports together are expected already in 2009, and in the long term passenger numbers in excess of ten million are envisaged.

Impressive revenues from non-aviation business

TAV also generates considerable direct revenues from non-aviation businesses amounting in 2006 to approximately EUR 240 million. The most important contributions come from the 50% stake in ATU, which operates the duty-free zones in TAV airports. TAV also has a number of subsidiaries with revenues from ground handling, catering, security and other airport related services.

Nadine Gilles, Member of the Board of Meinl Airport Managers, sums up: "MAI has achieved a substantial stake in one of Europe´s most recognised and biggest airport companies. The fantasy of this participation lies in the regional coverage in the growth markets from Russia to Turkey and further on across the Middle East into the North African rim."

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ots Originaltext: Meinl Airports International Ltd.
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Further inquiry note:
Herbert Langsner
0664 - 182 74 91

Branche: Real Estate
ISIN:      AT0000A053N4
Index:    other listings
Börsen:  Wiener Börse AG / Third Market

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