YYU Legal advised Erkunt Traktor Sanayii A.S. shareholders with respect to the sale of 100% of the shares of Erkunt Traktor to Mahindra & Mahindra Ltd. Yazici Law Offices advised the buyers on the transaction, which closed on December 1, 2017.
Erkunt Traktor, which was incorporated in 2003, produces 23 different model tractors sold abroad under the Armatrac brand. The transaction also included the acquisition of Erkunt Sanayi A.S., 35% of which is owned by Erkunt Traktor, and which produces casting pieces for the automotive sector and heavy construction equipment.
Mahindra — a holding company based in India — is the world’s biggest tractor producer. According to YYU Legal, the company is "a sector leader in manufacturing of transport vehicles, information technologies, financing services, [and] in addition to those businesses, [it] is also a strong player in space aeronautics, agricultural equipment, commercial vehicles, defense industry, industrial machinery, and logistics."
The YYU Legal team advising the Erkunt Traktor shareholders — Zeynep and Tuna Armagan and other Armagan family members -— was led by Partner Asli Yigit.
The Yazici Law Offices team was led by Senior Associate Ayse Yazici Adanir, supported by Associate Yunus Emre Bakiler..
