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Baker & McKenzie Advises on Acquisition of Turkish Dairy

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Baker & McKenzie, working primarily through the Esin Attorney Partnership, its Turkish member firm, has advised on the acquisition of a leading Turkish dairy products distributor.

The firm advised the Abraaj Group – a leading private equity investor operating in high-growth markets – in connection with the acquisition of a majority stake in Yorsan Group, a Turkish manufacturer and distributor of dairy products, including milk, cheese, and the popular Turkish Ayran. Esin advised Abraaj on (i) the acquisition financing (the lead arrangers of which were Turkiye Garanti Bankasi and Yapi Kredi), and (ii) the co-investment of the European Bank for Reconstruction and Development and the Yoruk Family. The deal was closed on 16 January 2014.

Managing Partner Ismail Esin and M&A and Banking & Finance Partner Muhsin Keskin led the Esin team, while Baker's team was led by Global Head of Private Equity Simon Hughes, M&A Partner Kuif Klein Wassink, and Banking & Finance Partner Fedor Tanke.

Keskin described the transaction as “particularly challenging”, noting that it “combined the capabilities of seven practice groups - Private Equity, Mergers & Acquisitions, Banking & Finance, Employment, Competition, Corporate and IP - across three offices - Istanbul, London, and Amsterdam.”

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