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Paksoy and Schoenherr Advise on Acquisition of Turkish Natural Gas Plant

Paksoy and Schoenherr Advise on Acquisition of Turkish Natural Gas Plant

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Paksoy has advised Yapisan Elektrik Uretim A.S., a subsidiary of Bilgin Enerji, on the acquisition of OMV Samsun Elektrik Uretim Sanayi ve Ticaret A.S. from OMV, the international integrated oil and gas company based in Vienna. Schoenherr advised OMV on the sale.

The transaction, which remains subject to clearance from the regulatory authorities in Turkey, among other contractual requirements, is expected to close by the third quarter of 2018.

OMV Samsun Elektrik Uretim Sanayi ve Ticaret is a natural gas combined cycle plant located in the Samsun province in Turkey's Black Sea region. The plant began operating in 2013 and its current capacity meets approximately three percent of Turkey's total power demand.

The Paksoy team consisted of Partner Zeynel Tunc and Counsel Selin Barlin Aral.

The Schoenherr team consisted of Vienna-based Partner Markus Piuk and attorneys at law Clemens Rainer and Manuel Ritt-Huemer, as well as Istanbul-based Partner Levent Celepci and attorneys at law Murat Kutlug and Busra Ozden.

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