The South Korean partner of the Eurasia Tunnel has put 18 percent of its minority shares up for sale. The tunnel is often on the agenda due to high tolls and Treasury guarantees.
SK Group, the South Korean partner of the Eurasia Tunnel, plans to sell its 18 percent minority stake.
According to the news of Kerim Karakaya and Ercan Ersoy from Bloomberg based on people who have knowledge on the subject, SK Gas Ltd. company, Avrasya Tunnel Management Construction and Investment Inc. (ATAŞ) hired a consultant to manage the sales process of his share in the consortium.
A company of SK Gas sözcüConfirmed that they are evaluating the sale. ATAŞ left the questions unanswered.
OPERATION TIME 24 YEARS
The 1,3 billion dollar tube transition project connects the two sides of Istanbul under the Bosphorus, and is always on the agenda with high transit fees and high public guarantees.
ATAŞ, in which Yapı Merkezi AŞ has a 50 percent share and SK E&C within the SK Group has a share of 32 percent, used a loan of 2012 million dollars with 18 years maturity in 960 for construction.
The operation of the tunnel, which was opened in August 2017, will be at ATAŞ for 24 years.