In our globalized world where trade has no borders, it is a usual practice for companies to conduct operations in different countries, including Turkey.
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.
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.
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.
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”).
Turkey's Cakmak Law Offices, which after many years as the preeminent firm in Ankara just launched its new Istanbul office last week, has announced that it will join forces with the Serap Zuvin Law Office on April 1, 2018, and that going forward, the two teams will operate under the Cakmak Law brand.