Tank ÖWA alpha GmbH entered into share purchase agreement to acquire additional 8.12% stake in TAV Havalimanlari Holding A.S. (IBSE:TAVHL) from Akfen Holding Anonim Sirketi for $160 million on June 9, 2017. M. Sani Sener will continue in his position as Chief Executive Officer of TAV Airports Holding. Edward Arkwright will be proposed to be appointed as Chairman of the Board of Directors of TAV Airports. TAV Airports' Board of Directors would still be constituted by a total of 11 members, with 5 members to be appointed by Groupe ADP. The transaction needs to be approved by the regulatory authorities. As on June 15, 2017, Stéphane Huten, Ali Chegra, Eric Paroche and Jean-Sébastien Duprey of Hogan Lovells (Paris) LLP acted as a legal advisor to Tank ÖWA alpha. Tank ÖWA alpha GmbH completed the acquisition of additional 8.12% stake in TAV Havalimanlari Holding A.S. (IBSE:TAVHL) from Akfen Holding Anonim Sirketi on July 7, 2017.