Paksoy, working with Gowling WLG, has advised UK-listed Volex on its acquisition of Turkish complex wire harness manufacturer Murat Ticaret Kablo for a total consideration of up to approximately EUR 178.1 million. Kinstellar and its Turkish affiliate Gen Temizer Ozer advised the Gora family on the sale of 100% of their shares in Murat Ticaret.
Volex Plc is, according to Paksoy, "a global supplier of critical power and data transmission products," producing power cords and electric vehicle charging cables, among others.
Established in 1969, "Murat Ticaret Kablo Sanayi A.S. is a leading Turkish manufacturer of cable harnesses and high-voltage battery cables for the agricultural, commercial, and industrial vehicle markets," Gen Temizer Ozer reported.
According to Gen Temizer Ozer, the transaction involved "a total consideration of up to approximately EUR 178.1 million, together with a placing and retail offer to raise gross proceeds of approximately GBP 60 million in aggregate. As part of the consideration, the Gora family will be entitled to receive ordinary shares of Volex."
The Paksoy team included Partners Elvan Aziz, Serdar Ildirar, and Togan Turan, Senior Associate Tugcan Akalin, and Associate Gamze Boran.
The Gen Temizer Ozer team included Partners Baran Gen and Edmund Emre Ozer, Managing Associate Dila Topuz, and Associates Sila Ozge Sayli and Osman Tugberk Cakirca.
Editor's Note: After this article was published, Karanovic & Partners announced it had worked in cooperation with local lawyers to advise Volex on the North Macedonian law aspects of the transaction. The acquisition "is in line with Volex’s strategy of organic growth and represents a significant step in achieving its five-year plan. This includes broadening its product offering and customer base, as well as expanding its manufacturing footprint," the firm reported.
The Karanovic & Partners in cooperation with local lawyers team was led by Partner Veton Qoku and Senior Associate Bojana Paneva and included Associates Martina Andelkovic Apostoloska and Vlatko Tokarev and Legal Assistant Sanja Lambershek.