CEE Legal Matters In-depth coverage of the news and newsmakers that shape Europe's emerging markets 
The government announced a substantial change in bearer shares at the end of 2020, but the details were only finalised in April 2021. According to the new amendment, non-public joint stock companies are now obliged to register shareholders holding bearer shares.
BTS & Partners has advised freight tech startup Yolda on a USD 1.9 million seed round led by Speedinvest, Collective Spark, and prior angel investors including Marcus Mosen, Stefan Kalteis, and Florian Gschwandtner.
Paksoy has advised Kibar Holding on the sale of Assan Gida Sanayi ve Ticaret to Kraft Heinz Company. Esin Attorney Partnership advised Heinz on the deal.
Former Managing Associate Ozgur Guner has been promoted to Partner at Moral & Partners.
BTS & Partners has advised Veloxia Technology on a USD 3 million financing round led by Collective Spark.
GKC Partners and White & Case have advised Zorlu Yenilenebilir Enerji A.S. on its USD 300 million issuance of 9.00% senior secured notes due 2026. Paksoy advised global coordinator BofA Securities on the issuance.
Clifford Chance and Ciftci Attorney Partnership have advised Arcelik A.S. on its offering of EUR 350 million in 3.0% Green Bonds due 2026 on the Euronext Dublin Stock Exchange. Gedik & Eraksoy and Allen & Overy advised joint lead managers JP Morgan Securities plc, Merrill Lynch International, and MUFG Securities EMEA plc.
Merve Oney Barlas has joined Istanbul-based financial services provider DgPays as Chief Legal Officer.
The Pelister Atayilmaz Enkur Law Office has advised Montana Tec Components on the acquisition of the remaining 20% stake in Turkish flexible packaging manufacturer Arimpeks.
Capital commitment is one of the indispensable conditions for becoming a shareholder in a Turkish joint-stock company ("JSC"). Under Turkish law, the main responsibility of a shareholder, whether in the stage of incorporation or capital increase, is to pay the undertaken capital.
Strong investments in the Turkish infrastructure sector have been the driving force behind Turkey’s economic development. In the last decade, several investments referred to as “mega-projects” have gained much attention, such as the completed Eurasian Tunnel in Istanbul, a road transport tunnel running under the Bosphorus to connect the European and Asian sides of Istanbul; the new Istanbul Airport, increasing capacity from over 100 million to over 200 million passengers per year; the third Istanbul Bridge, still one of the largest projects with construction costs of around TRY 4.5 billion (although it fell short of expectations and required USD 2.7 billion in refinancing from ICBC and still could not be executed due to the pandemic). One of the most recent projects is the 1915 Canakkale Bridge and Highway Project.
The Turunc Law Firm has advised Bogazici Ventures on its USD 1.4 million investment into Tarentum, a developer of machine learning and artificial intelligence technology solutions. The Ozbek law firm advised Tarentum on the deal.
Former Yazici Attorney Partnership Senior Associate Yunus Emre Bakiler has left the firm to become a Partner at Ozgur & Unuvar in Ankara, which, as a result, has changed its name to the Ozgur Unuvar Bakiler Attorney Partnership.
In line with the Law No. 7262 on Preventing the Proliferation of Financing Weapons of Mass Destruction (“Law No. 7262”), some of the provisions stipulated under the Turkish Commercial Code No. 6102 (“TCC”) were amended. As per the amendments made by the Law No. 7262, new notification requirement was introduced. In line with the amendments, the holders of the bearer share certificates in a joint stock company and the information regarding the shares have to be notified the Central Registry Agency (“CRA”).
The Regulation on Remote Identification Methods to be used by Banks and the Establishment of Contractual Relationships in Electronic Media (“Regulation”) was published in the Official Gazette dated April 1, 2021 and numbered 31441 and entered into force after one month as of its publication. The Regulation was prepared based on the Draft Communiqué on Remote Identification Methods to be used by Banks, which was published by the Banking Regulatory and Supervisory Authority ("BRSA") as presented to the public opinion.
On November 11, 2020, CEE Legal Matters reported that Balcioglu Selcuk Ardiyok Keki Attorney Partnership advised Fujitsu Technology Solutions Bilisim on its sale of 100% of shares from shareholders Fujitsu Technology Solutions GmbH and Fujitsu Technology Solutions Holding B.V. CEE In-House Matters spoke with Scott Mortimer, Vice President, Legal Commercial and Compliance at Fujitsu Australia Limited, to learn more about the sale.
GKC Partners in association with White & Case has advised joint bookrunners UBS and Bank of America Securities on LimakPort’s issuance of USD 370 million senior secured bonds, under Rule 144A / Regulation S due 2036, at a coupon rate of 9.50%. Paksoy advised the issuer.
Paksoy has advised Cisco Systems on the acquisition of Socio Labs, a US-based event technology platform that was co-founded by its Turkish CEO, Yarkin Sakucoglu.
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