Erdem & Erdem has advised Sisecam on the transfer of 10% of the shares of subsidiary Sisecam Cevre Sistemleri A.S. to the EBRD. The deal was successfully completed on December 28, 2016, with the EBRD represented by Bird & Bird.
According to Erdem & Erdem, the "share purchase agreement and shareholders’ agreement constituting the basis of the transaction had been signed during a press conference and signing ceremony on June 28, 2016. With this partnership which is the first of its kind in the world, Sisecam and EBRD will engage in the modernization of Turkey’s leading cullet collection and recycling companies and the increase of both the quality and capacity of cullet recycling, through Sisecam Çevre Sistemleri A.S.
Bird & Bird did not reply to our inquiry on the matter.