According to the British news agency Reuters, based on four different sources familiar with the deal, Abu Dhabi is preparing to buy shares in the Port of Izmir. Sources did not want their names revealed to discuss the details of the deal, which has not yet been finalized.
The amount of shares planned to be bought was not immediately clear, but one source quoted by Reuters said the deal could be worth around $500 million. The port, which belongs to the Turkish Wealth Fund, is in an important position that needs new investments.
UAE officials say they have long seen major investment opportunities in many sectors, including energy and logistics, in Turkey. Dubai state-owned port operating giant DP World acquired a majority stake in a Turkish port earlier this year.
