Avia has recently supported the investment by Islamic Development Bank’s Infrastructure Fund’s investment of US$73 million in TAV Hava Limanlari Isletme A.S., the holding company for Turkey’s leading airport development, management and operating group (“TAV Airports Group”). EMP (Bahrain) are Fund managers. Avia’s due diligence role included traffic forecasts, capital plan, operational costs, aeronautical and non-aeronautical revenue streams. This is the Fund’s first investment in the Republic of Turkey, and in the highly attractive airports sector. The TAV Airports Group manages and operates the following airports under long-term BOT contracts: Istanbul’s Atatürk Airport, Ankara’s Esenboga Airport, and Izmir’s Adnan Menderes Airport in Turkey; and Tblisi and Batumi Airports in the Georgian Republic. The Group also includes Havas AS, a leading ground handling services company; ATU, Turkey’s largest duty free operator; BTA, a food and beverage company; an aviation security arm; an airport operations and maintenance company; and an IT services provider specializing in airport applications. TAV Airports is actively bidding for airport concessions and pursuing related business opportunities, both within Turkey and overseas. The Group intends to go public within 2006. Click here for the full press release.