The Esin Attorney Partnership and Baker McKenzie have advised the Marubeni Corporation on its acquisition of a 45.494% interest in Saide Tekstil Sanayi ve Ticaret Anonim Sirketi, an apparel company in Turkey. The Akol Law Firm advised the sellers, Hatem and Askin Duru, on the deal.
According to Baker McKenzie, "Saide has a planning office in London, and has been rapidly expanding its sales in the European market by providing customers with products designed to reflect the latest global trends with short lead times. By investing in Saide, Marubeni will optimize and combine the planning, production and sales channels of both companies and leverage the resulting synergies to shorten lead times for its existing Asian customers, thereby expanding sales worldwide in lifestyle-related markets expected to grow alongside increasing populations and economic development."
The firm’s team was led by Mergers & Acquisitions Partner Duygu Turgut in Istanbul and Of Counsel Mina Arai-Ito, the head of the Firm’s Middle East & Africa Focus Group in Tokyo. They were supported by Istanbul-based Associates Orcun Solak and Serenay Cinki, as well as Associate Seiji Tomimoto, who is currently seconded to the Istanbul office.
Duygu Turgut had the following comment about the deal; "The textile sector in Turkey is recovering after the economic crisis of 2001. We are happy to complete this transaction, which is indicative of the rising Japanese investor interest in Turkey."
The Akol Law Firm team was led by Senior & Founding Partner Meltem Akol, supported by Counsel Askin Karaduman and Associates Tugce Kaya and Sila Pinar.
