Turkish airport operator TAV Havalimanlari Holding said on July 18 it had begun talks on buying the remaining 40 percent stake in Turkish airport ground handling company Havas from Park Enerji.

TAV already owns 60 percent of the company, which it bought in 2005 for US$110 million.

The TAV statement to the Istanbul Stock Exchange said the shares which it was buying had a nominal value of 18 million lira (US$14 million). It did not provide further details.

Havas was bought by the Ciner Group, the parent company of Park Enerji, in a 1995 privatisation.

Shares in TAV, which listed on the stock market earlier this year, were down 1.6 percent at 12.3 lira in early trade.