GKC Partners in association with White & Case has advised a consortium of lenders, including Ziraat Bankasi, DenizBank, HalkBank, and Yapi Kredi Bankasi, on their USD 1.1 billion financing of the restructuring of Turkey's Besiktas, Fenerbahce, Galatasaray, and Trabzonspor football clubs. Akol Law advised Galatasaray and Pekin & Pekin reportedly advised Fenerbahce.

Concern around carbon footprints, climate change, greenhouse emissions and compliance with environmental regulations and anti-bribery and corruption legislation has been on the rise over the last 20 years. More recently, that concern has expanded to encompass an increased emphasis on sustainable development in business operations and supply chains. The drive for more accountability and transparency from financial institutions, private equity investors and governments around the globe has turned the spotlight on disparities in terms of pay, gender and diversity, as well as the use of slavery in manufacturing. What started as discrete areas of focus and/or regulation, now firmly fall under the mainstream umbrella term, “Environmental, Social and Governance” (“ESG”).

Turunc, working with JPP Law, has advised Turkish/British digital employee-experience platform Sorwe on financing it received from Estonia-based Startup Wise Guys and Turkey-based TechOne. BTS Partners advised TechOne on the deal.

Yalcin Babalioglu Kemahli in cooperation with CMS has advised Discovery Inc. on its unspecified investment in BluTV, a Turkish provider of subscription video-on-demand services. Kolcuoglu Demirkan Kocakli advised BluTV.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. This time around we asked Data Protection experts: Overall, how compliant would you say economic agents are with relevant local regulations on data protection, and what are the main gaps that have yet to be addressed?

Former Gun + Partners Managing Associate Ali Bozoglu has joined Kenaroglu Avukatlik Burosu as Partner and Head of the firm's Enforcement Department.

Cakmak has advised Entek Elektrik, a subsidiary of Koc Holding engaged in the energy sector, on the acquisition of the 60 MW Suloglu wind power plant and its O&M services company from STEAG GmbH. Bezen Partners advised STEAG on the transaction which remains subject to regulatory approval.

Cakmak has advised Engie on the sale of its shares in energy-sector companies Izgaz, Baymina, and EPG to Palmet Enerji. Garanti BBVA and VakifBank provided acquisition financing to Palmet Enerji. Akol Law advised the buyer and GKC Partners in association with White & Case advised the banks.

Paksoy has advised Migros Ticaret AS on the sale of 99% of its subsidiary Ramstore Macedonia DOO to City Plaza DOO Skopje, which was reportedly advised by Debarliev, Dameski & Kelesoska. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approval.

Paksoy has advised the Orion Innovation Group on its acquisition of NetRD from Netas. Bumin & Varlik reportedly advised the seller.

Turunc has advised Wellbees on its angel funding round.

BTS & Partners has advised Midas, a Turkish commission-free trading platform, on its receipt of an unspecified investment from Deniz Ventures, backed by Deniz Bank.

Paksoy, working with Eversheds Sutherland as global counsel, has advised Siniora Food Industries Company PLC, a Jordan-originating multinational food company, on its acquisition of a 77% stake of Polonez - Trakya Et ve Sut Urunleri San. ve Tic. A.S., a Turkish processed meat products company. Caliskan Okkan Toker advised the selling Akkas Family members.

Kinstellar has advised Turkish technology start-up Dream Games on its generation of a USD 50 million Series A Round investment from Index Ventures as the lead investor, as well as Balderton Capital and Makers Fund.

Paksoy has advised the Ageas insurance company on its acquisition of a 40% stake in Turkey's AvivaSA life insurance company, from British insurance group Aviva, for approximately GBP 122 million. The transaction, which is expected to close this year, remains subject to regulatory approval.

New technologies are all the rage, as law firms adapt to the telecommuting and digitalization realities that accompanied the Covid-19 pandemic. Accordingly, we decided to ask our Law Firm Marketing experts from across the region a simple question: “What is the single most important/valuable piece of software you use?” As always, we asked respondents to focus on the question at hand, rather than – as we put it – using the question simply as an excuse to “tell us that their firms are awesome.” Not everyone was able to resist.

Turunc has advised Bogazici Ventures on its USD 500,000 investment in Barakatech.

The Turkish Data Protection Board (“Board”) has recently published summaries of several important decisions on certain matters, which may constitute precedents for future cases. All of the decisions below are published on the Data Protection Authority’s website on February 12, 2021.