In our Looking In series, we talk to Partners from outside CEE who are keeping an eye on the region (and often pop up in our deal lists) to learn how they perceive CEE markets and their evolution. For this issue, we sat down with Reed Smith Partner Kevin-Paul Deveau.

Inflation rates, while high across Europe, have been particularly making headlines in Turkiye. Yalcin Babalioglu Kemahli in cooperation with CMS Managing Partner Done Yalcin, Ergun Law Firm Partner Lara Sezerler, Celepci Law in cooperation with Schoenherr Office Managing Partner Levent Celepci, KP Law Managing Partner Onur Kucuk, and Guleryuz & Partners Partner Zahide Altunbas Sancak discuss the current outlook.

In the context of economic and political uncertainties, coupled with the depreciation of the currency, interesting dynamics are unfolding within the Turkish legal landscape.

Siemens Turkiye Lead Country General Counsel Bige Yucel talks about her in-house legal team’s current and upcoming focuses.

The phenomena of globalization and heightened international economic competition have led to a growing demand for qualified foreign labor in Turkiye. Especially in recent years, as Turkiye has become a target country for migration, the issue of work permits for foreigners has become a hot topic of employment.

An in-depth look at Okan Demirkan of Kolcuoglu Demirkan Kocakli covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

Turkiye’s Medium-Term Program (MTP) for 2024-2026 serves as a comprehensive roadmap for aligning the nation with global, regional, and domestic economic indicators and trends. This document delineates key policies aimed at bolstering the Turkish economy, with a particular focus on the policies affecting the business and investment landscape. In this article, we have addressed the most significant elements of this policy that impact the M&A ecosystem in Turkiye.

There is no specific definition in the Turkish Labor Code (TLC) for upper-level managers who work at the top management level in companies. Therefore, it is difficult to determine whether they are defined as employees, employers, or an employer’s representatives, and what their rights and obligations are.

Ebru Ince and Harun Gunduz have been appointed as Partners with Elig Gurkaynak Attorneys at Law. The same promotion round also saw Selen Ermanli Sakar and Can Yildirim promoted to Counsel.

Hengeler Mueller has advised the Salzgitter Group on the sale of its 23% participating share in Turkiye's Borusan Mannesmann Boru Yatirim Holding to the co-owner Borusan. Paksoy reportedly advised the Salzgitter Group as well.

Aksan has advised PhiTech Bioinformatics on receiving an investment from the Maxis Arya venture capital fund.

Senior Associate Tolga Tezel and Associates Radek Kraus and David Wilhelm have been appointed as Local Partners at White & Case in Istanbul and Prague respectively. The appointments were part of a broader round – including 23 Local Partners and 22 Counsels – and followed the firm's earlier Global Partner round, which included Prague's Vaclav Zaloudek (as reported by CEE Legal Matters on November 20, 2023).

Egemenoglu has advised Italian international transport company Savino Del Bene on its acquisition of majority stakes in Turkyie's freight forwarding market players Trans Okyanus and Bogazici Ekspres.

Pursuant to the Presidential Decree on the Increase of the Required Minimum Capital Amount for Joint Stock and Limited Liability Companies numbered 7887 published in the Official Gazette dated 25 November 2023 and numbered 32380 ("Decree"), the required minimum capital amounts set out in the relevant articles of the Turkish Commercial Code numbered 6102 ("TCC") for joint stock and limited liability companies have been increased.

Kinstellar and its Turkish affiliate Gen Temizer Ozer, working with Ashurst, have advised British Petroleum on the sale of its downstream business in Turkiye to Vitol Turkish subsidiary Petrol Ofisi. Kolcuoglu Demirkan Kocakli advised Vitol and Petrol Ofisi on the deal.

Paksoy has advised Ziraat Katilim Bankasi on a USD 500 million issuance of Islamic bond certificates on Euronext Dublin. Clifford Chance and its Turkish affiliate Ciftici Attorney Partnership advised joint lead managers Dubai Islamic Bank, Emirates NBD Capital, HSBC, and Standard Chartered Bank. Akin Gump reportedly advised Ziraat Katilim Bankasi as well.

Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki has advised Emre Kurttepeli on the sale of Mynet Internet Teknoloji Anonim Sirketi to Mediazz Yeni Medya ve Teknoloji Yatirimlari Anonim Sirketi. Reportedly, Yondem Yigit Uclertopragi advised Mediazz.

Turkish Constitutional Court ["TCC"], in its decision no. 2023/36 E., 2023/142 K. published in the Official Gazette dated 13 October 2023, annulled Article 46, paragraph 1, subparagraph (b) of the Turkish Code of Administrative Procedure No. 2577 ["TCAP"], which regulates the appeal in administrative judiciary, by finding it in violation of the Turkish Constitution. The decision will enter into force on 13 July 2024, nine months after its publication in the Official Gazette.