Baker & McKenzie's Tokyo and Istanbul offices have advised Japan-based Marubeni Corporation on the acquisition of a 49% stake in Temsa Is Makinalari Imalat Pazarlama ve Satis, a Turkish distributor of Komatsu construction equipment, from TEMSA GLOBAL Sanayi ve Ticaret.
The deal was signed on March 5, 2014 and closed on April 28, 2014.
The multi-jurisdictional Baker & McKenzie team was led by Istanbul-based M&A Partners Ismail Esin and Asli Yigit and Of Counsel Mina Arai-Ito, supported by Associates Sitki Can Tulay, Beelian Tay, Seiji Tomimoto, and Masahiro Inaba.
"This acquisition marks an important step in the partnership between Marubeni and Temsa Is Makinalari. With the contribution of Marubeni, Temsa Is Makinalari will strengthen its leading position in Turkey," Partner Asli Yigit commented.
"Turkey is becoming an increasingly important and popular investment destination for Japanese investors, mainly for its strong domestic market and its position as a hub for the wider region. Marubeni's acquisition is a symbolic deal which will further strengthen ties between Turkey and Japan," Mina Arai-Ito -- the firm's Middle East and Africa Focus Group head -- added.
Founded in 1858, Marubeni Corporation is one of the largest trading companies in Japan, with a presence in 65 countries. Marubeni currently operates the business of distributing Komatsu construction equipment in the UK, Philippines, Vietnam, Russia and Mexico. Temsa Is Makinalari is a subsidiary of the Sabanci Group, one of Turkey's leading industrial and financial conglomerates.
