White & Case Turkish affiliate GKC Partners has advised TotalEnergies Renewables on its acquisition of a 50% stake in hydroelectric power company Ronesans Enerji. Baker McKenzie Turkish affiliate Esin Attorney Partnership advised Ronesans Holding's Ronesans Yenilenebilir Enerji on the sale.

Bozkurt Bozkurt opened an office in Washington, DC, on August 15, 2023. The new office will be headed by Partner Gokhan Bozkurt.

Turunc has advised Bogazici Ventures on its investment in Hungri Games. Ataergin Tanriverdi reportedly advised Hungri Games.

Paksoy has advised high-pressure steel pipe manufacturer Erciyas Celik Boru on its TRY 300 million inaugural issuance of Islamic bond certificates.

Former Senior Associate Nigar Gokmen has been promoted to a Partner position with the Esin Attorney Partnership, the Turkish affiliate of Baker McKenzie. Gokmen has also become the firm’s new Head of Energy, Mining & Infrastructure, and Real Estate practices.

In July 2023, the Turkish Personal Data Protection Authority (the “DPA”) issued a decision, a bulletin and published nine data breach notifications.

Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Koc Medical on its acquisition of Bicakcilar Global Tibbi Urunler and its fully owned subsidiary Bicakcilar Tibbi Cihazlar.

Turunc has advised the Arya Women Investment Platform on its investment in Vispera. Caliskan Okkan Toker advised Vispera.

Paksoy has advised investors IFC and the Asian Infrastructure Investment Bank on Akbank’s USD 150 million issuance of sustainable tier-2 notes and the DFC on Akbank's USD 150 million issuance of gender tier-2 bonds. Allen & Overy reportedly advised Akbank.

Turunc has advised BV Dijital on its cooperation agreement with Waves Tech including the formation of a new entity focused on blockchain technologies.

The Regulation on the Amendment ("Amendment Regulation") to the Regulation on Unlicensed Electricity Generation in the Electricity Market ("Regulation") was published in the Official Gazette dated 29 July 2023 and numbered 32263 and entered into force on the same date.

Kumkumoglu Ergun Cin Ozdogan has advised Istanbul-based climate technology start-up Erguvan on its seed investment round with Emirates NBD and DenizBank's Deniz Ventures over a USD 7.33 million valuation.

The Law No. 7456 on the Issuance of Additional Motor Vehicles Tax for the Compensation of Economic Losses Caused by the Earthquakes Occurred on February 6, 2023 and Amendments to Certain Laws and Decree Law No. 375 ("Omnibus Bill") entered into force upon its publication in the Official Gazette dated July 15, 2023 and numbered 32249.

Turunc has advised Bogazici Ventures on its investment in Arvis Games. The Kirbiyik Law Firm advised Arvis Games.

Baker McKenzie Turkish affiliate Esin Attorney Partnership has advised TeamSystem on its acquisition of a 53% stake in the Mikro Group from Dash Software, Izzet Murat Sakarya, Alpaslan Tomus, Kadir Keskin, Xiang Yu, and Andac Turkmen through a bid process. Verdi advised the sellers.

Former White & Case Senior Competition Director Sezin Elcin Cengiz announced the establishment of her new competition law consulting firm in Istanbul: CORE – Competition & Regulation.

Turkish lawyer Meltem Azbazdar has relocated to Hamburg, Germany, to take the role of General Counsel Northern Europe, Eastern Europe, and MENA at Diageo.

Recent developments in Turkish tax regulations carry substantial implications for both corporations and foreign investors. Turkey has undertaken substantial measures to fortify its fiscal position and tackle economic challenges. Among the notable changes is the elevation of the general corporate income tax rate to 25%. The financial sector faces an even higher rate of 30%. This tax rate adjustment is rationalized by the government as a means to aid the country's recovery efforts following recent earthquakes.