MAHB is first Asian company to fully own a European airport

It is now the first Asian company to own 100 per cent of a European airport.

"As announced on Bursa Malaysia, the proposed acquisition received the necessary approval from all relevant authorities of both countries and the share purchase agreement was signed on Dec 31, 2014," the group said in a statement today.

MAHB also received the approval of its shareholders on Dec 23, 2014 to finance its acquisition via a rights issue.

"MAHB's acquisition of ISG heralds an exciting phase not only for the group’s growth in particular, but also plays a role in increasing bilateral economic and trade relations between Malaysia and Turkey.

"It is expected to have a multiplier effect on the Malaysian economy through the export of local talent and cross-selling opportunities for other Malaysian product suites," it added.

According to MAHB, the acquisition also demonstrates the confidence of the Turkish government and public towards a Malaysian brand and is also testament to Malaysian skills and expertise in airport operations and management.

MAHB's involvement in ISG began in 2007 in the areas of airport planning and design, airport development and operational readiness and airport transfer (ORAT) which led to its successful opening in 2009.

Turkey is the sixth most visited country in the world with a fast-growing emerging market economy and Istanbul is one of the top ten fastest growing airport cities in the world.