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Paksoy has advised the EBRD and IFC on their acquisition of a 5% stake in Akfen Yenilenebilir Enerji A.S., which holds the renewable energy asset portfolio of Akfen Holding A.S., constituting of hydro, wind, and solar energy investments. Closing took place on June 12, 2016 after clearance from the Turkish Competition Authority and Energy Market Regulatory Authority was obtained.

Schoenherr has advised the Mondi Group (consisting of Mondi Limited and Mondi plc) on the acquisition of 90% of the outstanding share capital in Turkish Kalenobel for a consideration of around EUR 90 million on a debt-and-cash-free basis from ARGUS capital, a CEE focused private equity group, and M. Olcay Hephiz, one of the company's founders. Kolcuoglu Demirkan Kocakli advised the sellers on the deal, which closed on July 12, 2016 following competition clearance and other customary closing conditions.

Paksoy, working together with Latham & Watkins, has advised Comdata, the Italian industrial partner for BPO (Business Process Outsourcing) held by the Carlyle Group, on its acquisition of Win Bilgi Iletisim Hizmetleri A.S., a leading call center services provider in Turkey. Yazici Legal advised the seller, Ugur Turkmen, on the deal.

The Esin Attorney Partnership (EAP), a member firm of Baker & McKenzie International, has advised ING Group’s Turkish subsidiary on a syndicated loan obtained for general trade finance purposes. Balcioglu Selcuk Akman Keki Attorney Partnership (BASEAK), working alongside Dentons, advised the lenders.

Baker & McKenzie SCP (Paris) and Esin Attorney Partnership (Istanbul), a member firm Baker & McKenzie International, have advised Commerzbank and a syndicate of international banks on their extension of a multi-tranche term loan facility to the Industrial Development Bank of Turkey (TSKB). YaziciLegal was the borrower’s counsel.

Clifford Chance and the Yegin Cifti Attorney Partnership (YCAP) have provided English and Turkish law advice, respectively, to Odea Bank on a TL 1.0 billion capital increase subscribed to by the IFC, the IFC Financial Institutions Growth Fund ("FIG Fund"), a private equity fund managed by IFC Asset Management Company (AMC), and the EBRD. Odea Bank is a subsidiary of Lebanon's Bank Audi Group, which received English law advice by Dechert and Turkish law advice from the Bilgic Attorney Partnership.

The Turunc law firm has advised Elba HR (now being rebranded as Peoplise) on investment into the company by Revo Capital. BTS & Partners advised Revo on the investment, which was part of the Borsa Istanbul Private Market (BIST).

On June 16, 2016, CEE Legal Matters reported that Turkey’s well-known YukselKarkinKucuk law firm – the largest law firm in Turkey – had transformed into the YukselKarkin Attorney Partnership.

We reached out to Partners Cuneyt Yuksel and Murat Karkin to find out the details.


The Data Protection Law, Turkey's first dedicated general data protection law, was published in the Official Gazette on April 7, 20161. The law regulates the transfer of personal data in two categories: the transfer of personal data and the transfer of personal data abroad.

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Founded in 1990, TURUNÇ is a leading, full-service Turkish law firm providing cutting-edge legal advice and representation to a global clientele. We provide the highest quality of legal service in each of our practice areas and we take pride in the work we do. Since our founding, we have always maintained a friendly, open and inclusive firm culture in which individuality and independent thinking are highly prized. Our lawyers work in collaborative, collegial teams across our practice areas.

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