Kocian Solc Balastik, Linklaters, BLC Law Office, Paksoy, and Tsvetkova Bebov Komarevski have acted as legal counsels to Energo-Pro a.s. in its EUR 250 million Eurobond issue in London, advising on Czech, English, Georgian, Turkish, and Bulgarian law, respectively. The Joint bookrunners and the trustee were advised by Allen & Overy's London and Prague offices, Tbilisi-based BGI Legal, Boyanov & Co. in Sofia, and Istanbul-based Gedik & Eraksoy.

TCiting "family-related reasons," former Akol Law lawyer Jonathan Clarke has left his position with the Istanbul-based firm to move back to the UK, where he re-joins DLA Piper as a Legal Director.

In recent years, the USA has been pursuing a very protectionist approach against imports and accordingly, it has initiated safeguard investigations and imposed very high measures (e.g. steel product).

Former Paksoy lawyer Burak Kepkep has become the new General Counsel at Polat Enerji San. ve Tic. A.S. in Istanbul, taking over from Melis Alkan Bolukbasi, who left spending four years with the company.

In our globalized world where trade has no borders, it is a usual practice for companies to conduct operations in different countries, including Turkey.

With early elections scheduled for June 24, 2018, Begum Incecam, Partner at Kolcuoglu Demirkan Kocakli in Istanbul, says the attention which will inevitably be drawn to the political arena in Turkey will slow down the market.

Balcioglu Selcuk Akman Keki Attorney Partnership and Dentons have advised Isdemir, a member of the Oyak Mining Metallurgy Group, on the incorporation of a joint venture with Linde Group, to build a new air separation unit at the Iskenderun premises of Isdemir.

Baseak has advised Tiryaki Agro Gida Sanayi ve Ticaret A.S., a Turkish agricultural products exporter, on a long-term loan facility of USD 65 million, extended by a syndicate led by Dutch development bank, FMO, the EBRD, and Proparco. The lenders were advised by lawyers from Hogan Lovells's offices in London, the Netherlands, and UAE.

BASEAK and Dentons have advised Entek Elektrik Uretimi A.S., a subsidiary of Koc Holding, on its acquisition of the Menzelet and Kilavuzlu hydropower plants from Turkey's Privatization Administration. The lenders of the project, a syndicate of Turkish and international commercial banks and EBRD, were represented by Clifford Chance and Yegin Ciftci Attorney Partnership. 

Balcioglu Selcuk Akman Keki Attorney Partnership and Dentons have advised Akbank subsidiary Arts Limited on its securitization program.

The Law on the Amendment of Certain Laws for the Improvement of the Investment Environment No. 7099 (“Law”) was published in the Official Gazette last month (March 10, 2018) and introduced significant amendments to various laws, including the Turkish Commercial Code No. 6102 (“TCC”), the Tax Procedural Law, the Law on Legal Fees and the Law on Movable Property Pledges in Commercial Actions.

I. Legal Framework

This article will address major amendments and novelties stipulated for foreign exchange and foreign exchange denominated loans.

Turunc and Cleary Gottlieb Steen & Hamilton have advised worldwide automotive supplier Valeo on the sale of its passive hydraulic actuation division to Raicam, executed to obtain regulatory clearance for Valeo's planned takeover of German clutch manufacturer FTE. Italy's Studio Legale Gullo & Associati advised the buyers.

Paksoy has advised the Akfen Group on agreements to construct and service four wind farms with a total capacity of 242 MW in the Turkish cities of Canakkale and Denizli. As the EPC contractor and service provider, Siemens Gamesa will supply and install 81 turbines for these projects, each with 3 MW capacities, and provide long term maintenance service.

Today’s sociocultural system is demanding the people to be online, transferring money, marketing products, corresponding with counterparties, or storing business data in cloud systems and in many other daily business functions.

The Turkish Competition Authority (“Authority”) completed its work in progress on revising the Guidelines on Vertical Agreements (“Guidelines”) that was issued based on the Block Exemption Communiqué on Vertical Agreements (“Communiqué No. 2002/2”).

Paksoy and Herbert Smith Freehills have advised the underwriters on the initial public offering and listing on Borsa Istanbul of Turkish energy distribution and retail company Enerjisa Enerji A.S. White & Case acted as legal advisor to the issuer as to American and English law, while GKC Partners advised on Turkish law.

Turkey recently enacted an amendment to the Turkish radio and television legislation that will regulate radio, television and on-demand broadcasts provided through internet and have these services and their providers (media service providers and platform operators – please see their definitions under II) under the supervision and authority of the Radio and Television Supreme Council (“RTUK”).