Almaty Airport Share Transfer
Related Companies
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Related Funds
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English
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Evet (Yes)
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Hayır (No)
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08.05.2020
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Hayır (No)
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23/07/2019
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Yes
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Almaty International Airport
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Airport Operation, Jet Fuel Trading and Catering
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-
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Satın Alma (Purchase)
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29.04.2021
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Peşin (Cash)
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-
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-
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-
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365 million USD (Enterprise Value)
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85
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85
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85
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9
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100
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-
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Hayır (No)
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Hayır (No)
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-
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Hayır (No)
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not related party
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29/04/2021
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Negotiation
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Düzenlenmedi (Not Prepared)
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Negotiation method
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-
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-
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-
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-
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We had disclosed on May 8, 2020 that a share purchase agreement had been signed by the consortium formed by TAV Airports and VPE Capital on May 7, 2020 to acquire 100% of shares of Almaty Airport and the associated jet fuel and catering businesses (Almaty Airport) for an enterprise value of 415 million USD. We had also disclosed that TAV Airports' share in the consortium would be no less than 75% and the share transfers would take place upon closing with the completion of all legal prerequisites and procedures. The share transfer of Almaty Airport to the consortium took place on April 29, 2021. Almaty Airport is now owned by the consortium of which TAV Airports is an 85% shareholder. The Kazakhstan Infrastructure Fund under the management of VPE Capital, a specialist fund manager in the capital markets of Russia and the CIS, holds the remaining 15% stake in the consortium. The previously agreed purchase price of an enterprise value of 415 million USD has been revised down to 365 million USD to take into account the traffic decrease in Almaty Airport due to the pandemic. The payment of an additional "earn-out" up to the remaining 50 million USD to the seller will be subject to an earn-out schedule of reaching certain thresholds of traffic recovery by different years. The details of the earn-out schedule are provided in the presentatíon attached.
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