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Paksoy Advises BAE Systems on Sale of JV Stake to Nurol Holding

Paksoy Advises BAE Systems on Sale of JV Stake to Nurol Holding

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Paksoy has advised BAE Systems on the sale of its 49% stake in joint-venture company Nurol BAE Systems to Turkey's Nurol Holding.

The transaction was completed on November 21, 2022.

According to Paksoy, “BAE Systems, a British multinational company providing some of the world’s most advanced, technology-led defense, aerospace, and security solutions, has entered into a share purchase agreement with Turkish conglomerate Nurol Holding for the sale of its 49% stake in their joint venture Nurol BAE Systems, which operates in the aerospace and defense sector in Turkey.”

According to the firm, “BAE Systems remains a key supplier of the TF-X project with Turkish Aerospace, and the parties have agreed to continue exploring joint opportunities in the Turkish aerospace sector.”

Paksoy’s team included Partners Stephanie Beghe Sonmez and Sansal Erbacioglu, Senior Associate Zeynep Toma, Associates Deniz Benli and Goksu Cetin, and Senior Tax Specialist Canay Palak.