White & Case's Turkish affiliate GKC Partners has advised Esas Holding on the placement of approximately 19.2 million ordinary shares in Pegasus Airlines to two international institutional investors and an international financial investor residing outside of Turkiye.
Citi Global Markets Limited was the sole placement agent.
Esas Holding is a venture capital and private equity company.
According to GKC Partners, these shares represent approximately 3.85% of Pegasus's issued share capital. "The transaction was priced at TL 217.53 per share, reflecting a 7% discount to the previous closing price, and raised gross proceeds of approximately TL 4.2 billion. The Transaction was settled through an off-exchange transaction outside of Borsa İstanbul. "
The GKC Partners team included Partner Derin Altan.
