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Baker & McKenzie Advises on Sale of Leading e-Pin Distributor

gamesultan.com

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Turkey's Esin Attorney Partnership has advised the two founders and shareholders of Game Sultan, the largest e-pin distributor in Turkey, on the sale of Game Sultan shares to MOL AccessPortal. MOL Access Portal is a subsidiary of Malaysia-based e-payments service provider MOL Global.

According to the Esin Attorney Partnership - the Turkish member firm of Baker & McKenzie International — the firm "advised Kazim Akalin and Aykut Sanver, local shareholders of Sihirli Kule (Game Sultan), on the sale of: (i) a 30 percent stake in the operator of Game Sultan, MOL Turkey Bilgi Sistemleri Yayincilik Sanayi ve Ticaret Anonim Sirketi; and (ii) a 30 percent stake in Sihirli Kule Bilgi Sistemleri Ltd., to MOL AccessPortal Sdn. Bhd." The deal was signed on May 6, 2014, and closed on July 15, 2014. The Firm also advised Akalin and Sanver on the sale of: (i) a 70 percent stake in MOL Turkey Bilgi Sistemleri Yayincilik Sanayi ve Ticaret Anonim Sirketi; (ii) a 70 percent stake in Sihirli Kule Bilgi Sistemleri Ltd.; and (iii) a 70 percent stake in the leading Turkish leading mobile payment company PaytoGo to MOL in March 2013.

Game Sultan is the largest e-pin distributor in Turkey, offering in-game currencies for over 100 online games from more than 25 global publishers. The company operates an e-wallet system using a branded virtual currency called G-Cash, which can be purchased online and in kiosks, retail outlets and cybercafes across Turkey. 

Founded in 2000, Malaysia-based MOL AccessPortal is a leading online payment solutions provider wholly owned by MOL Global. Including Turkey, MOL is active in 11 countries. Ganesh Kumar Bangah is the founder and group CEO of the company.

The Esin Attorney Partnership team advising on the transaction was led by M&A Partner Muhsin Keskin, with support from Associates Erdem Sismangil, Berk Cin, and Mustafa Ozkan Ozdogan. Akalin and Sanver received financial advice from 3Seas Capital Partners.

The Esin Attorney Partnership reports that this is the seventh transaction it has advised on in the Turkish online gaming market and the fifth transaction it has advised the Game Sultan shareholders on in the last year. In 2013, the Firm advised Burak Balik on the sale of his 50 percent stake in: (i) SHR Interaktif Servisler Sanayi ve Ticaret A.S., the operator of Joygame, the no. 1 Turkish multiplayer online gaming and entertainment company; and (ii) Joygame Interactive Services Ltd., to CJ Games. Relatedly, in February 2014, the Firm advised AIM-listed Monitise plc on the cross-border acquisition of 100 percent of the issued share capital of Pozitron Yazilim A.S., an online payment, banking, and security systems company and in 2012, the Firm advised SK Planet on its joint venture with Dogus Holding to set up n11.com, an online marketplace platform. 

"Advising clients on transactions in the dot-com business, online gaming, e-payment and e-commerce sectors is exciting because it places us at the intersection of Turkey's emerging tech scene and entrepreneurial spirit," commented Keskin.