Baker McKenzie advises on acquisition of 60% stake in Turkish airport

Baker McKenzie has advised Ferrovial on the acquisition of a 60% stake in Dalaman International Airport in Turkey 

Baker McKenzie has advised Ferrovial on the acquisition of a 60% stake in Dalaman International Airport in Turkey for €140 million. This infrastructure has been operated since 2014 by the local YDA Group.

The deal, which is still under review by the Turkish authorities, includes YDA Group holding the remaining 40% stake. Ferrovial expects to close the deal in the first half of the year.

Located on the Turkish Riviera, the Airport comprises one domestic and one international terminal. With an annual passenger handling capacity of more than 20 million, Dalaman Airport secures the fourth spot in the country in terms of international passenger numbers and prior to the pandemic, Dalaman Airport managed five million passengers a year.

YDA Group had acquired the Dalaman concession in 2003 from the Directorate General of State Airports Authority (DHMI). Through this acquisition, Ferrovial Group plans to diversify its airport portfolio as it continues to look for growth opportunities.

The Baker McKenzie team advising Ferrovial was led by partner Antonio Morales (pictured left), partner Caner Elmas (pictured bottom right), associate Manuel Somacarrera (pictured top right) and Esin Attorney affiliated to Baker McKenzie in Turkey.