Turkey has recently adopted a new law to officially enable temporary employment relationships through private employment agencies, while offering better protection for temporary staff.
Paksoy, working with Freshfields Bruckhaus Deringer, has advised Klockner Pentaplast and Farmamak on a syndicated loan received in October 2016 from Turkish banks Garanti Bankasi and Odeabank in the amount of TL 75 million. Clifford Chance and the Yegin Cifti Attorney Partnership advised the banks on the deal.
Paksoy has advised Ajinomoto, a Japan-based multinational corporation producing food ingredients, on its TL 220 million acquisition of Orgen Gida, a Turkish producer of soup, bouillon, ready-made desserts, and mixed food business, and its Bizim Mutfak brand, from Yildiz Holding and the Orgen Family. Balciolu Selcuk Akman Keki Attorney Partnership (BASEAK) advised the sellers on the transaction, which remains contingent on final approval from the Turkish Competition Board.
On August 17, 2016, CEELM reported that Yilport Holding had signed a public-private partnership agreement and acquired the right to operate Puerto Bolivar Harbor in Ecuador for 50 years. We reached out to Legal Director at Yildirim Holding for more details on the deal.
On October 8th 2016, the General Communiqué on National Estate No. 373 (“Communiqué”) has been published on the Official Gazette. The Communiqué governs principles regarding easement right and/or right of usage to be granted to financers for them to construct marinas, landing stages, piers and berths on state-owned or treasury lands.
Paksoy is reporting that it advised Turkiye Ihracat Kredi Bankasi (Turk Eximbank), Turkey's official export credit agency, on its October 24 2016 issuance of USD 500 million bonds due 2023 under its USD 1.5 billion Global Medium Term Note Program. Linklaters acted as counsel to Turk Eximbank on English law aspects of the project, and Allen & Overy reportedly advised the banks on the issuance.
The Esin Attorney Partnership, a member firm of Baker & McKenzie International, and Baker & McKenzie’s Frankfurt office, have advised underwriters Ak Yatırım Menkul Degerler A.S., as domestic manager, and Citigroup Global Markets Limited, as international manager, regarding the recent fully marketed offering of EAS Solutions S.A.R.L. and Logo Teknoloji ve Yatirim A.S.’s shares in Logo Yazilim Sanayi ve Ticaret A.S. EAS and Logo Teknoloji (collectively, the "Selling Shareholders") were advised by Proskauer Rose in the US and Kolcuoglu Demirkan Kocakli in Turkey.
Law 6698 on the Protection of Personal Data came into force on April 7 2016 and applies to:
Therefore, defining the actions and main actors involved in the processing of personal data is key to understanding the law's general scope.
Paksoy is reporting that it has advised GE Healthcare on its entrance into two Public Private Partnership (PPP) projects with GAMA Holding A.S. and Turkerler Insaat A.S. with the Turkish Ministry of Health: The Izmir Bayrakli Integrated Healthcare Campus Project and the Kocaeli Integrated Healthcare Campus Project. The two projects are collectively valued at approximately USD 1.3 billion. White & Case and its Turkish arm, the Cakmak-Gokce Law Offices, and its former associated partner firm in Ankara, the Cakmak Law Offices, represented the Gama Holding-Turkerler Insaat consortium and Freshfields Bruckhaus Deringer and Herguner Bilgen Ozeke advised the lenders on the Izmir project.
In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.