Australian fund manager buys into Turkish port

Australian fund manager buys into Turkish port

Turkey’s Akfen Holding has transferred its 40% stake in Mersin International Port to IFM Investors, an Australian infrastructure fund management company in a deal worth $869m.

Afken and Singapore’s PSA International were handed a 36-year contract to operate the Turkish Mediterranean port in 2007. The port today handles around 1.6m teu a year.

After the deal, Afken is left with just a 10% stake in Mersin.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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