An agreement has been finalised over the sale of a share in a key Turkish bridge connection. The Italian firm Astaldi is to sell its share in the concession package for the Third Bosporus ridge to Turkish firm ICTAS.
The two companies set up a partnership agreement to build the bridge and then manage the concession to operate the link. However, ICTAS is now to operate the concession on its own. The price agreed was US$315 million. Astaldi will be paid $215 million by ICTAS as the agreement includes $100 million in compensation.