Paksoy has advised CS Wind, a wind tower manufacturer headquartered in South Korea, on its purchase of 100% shareholding in Ege Tower, based in Izmir. The deal is expected to close by the end of May 2018, and is subject to fulfillment of corporate and regulatory requirements.
EGE Tower operates as a steel tower manufacturing company, offering towers for wind turbines.
According to Paksoy, the acquisition of Ege Tower is a strategic first step for CS Wind to expanding its business in Turkey, "before penetrating into neighboring countries." The firm reports that "the deal showcases the strengthening of economic relations between South Korea and Turkey especially before the introduction of the Turkish government's incentivizing plans in the renewable energy sector."
The Paksoy team consisted of Partner Togan Turan, Senior Associate Serdar Ildirar, and Associate Ece Sarıca.