On October 3, 2023, GKC Partners announced that TotalEnergies Renewables' acquisition of a 50% stake in Turkey's Ronesans Enerji (reported by CEE Legal Matters on August 18, 2023) had closed.
Turunc and BATI Lawyers Advise on Arya's Investment in Ingosa
Turunc has advised the Arya Women Investment Platform on its investment in Ingosa in a round that also included Dogus Yeni Girisimler, Aegean Ventures, and angel investors from the Arya Angel Investment Network. BATI Lawyers advised Ingosa.
Aksan Advises Maxis Founder One on Varsapp Investment
The Aksan Law Firm has advised Maxis Founder One on its investment in Varsapp as part of the start-up's USD 200,000 concluded investment round that also included hiVC GSYO.
Bozoglu Izgi Attorney Partnership Merges with Balcioglu Selcuk Ardiyok Keki
On October 6, 2023, the Bozoglu Izgi Attorney Partnership announced it is joining forces with Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki, with Elvan Sevi Bozoglu and Mehmet Feridun Izgi joining BASEAK as Partners alongside an additional 19 lawyers and two trainees from their team.
Turkiye: A Summary of Regulations Relating to Crypto Assets in Turkiye and Envisaged Developments
As a result of the expanding adoption of blockchain technologies worldwide, lawmakers seek to introduce regulatory frameworks to compete in the ever-fast-growing field, particularly when it comes to crypto assets. As these assets spark debates in the financial world and among regulators, some countries’ lawmakers adopt regulations to define their legal status, whereas others choose to remain silent.
The Rise Of Digital Mobile Payments And Current Regulations
Cashless and contactless interactions have dramatically increased over the last few years, driven by several factors, such as the increasing adoption of smartphones, the growth of e-commerce, and the need for contactless payments during the COVID-19 pandemic. Digital transactions have become commonplace and straightforward daily for many users in every field. Most consumers switch from traditional payments with plastic cards to online payments via smartphone apps.
Carbon Border Adjustment Mechanism and EU Sustainable Development Goals
For almost every industry, sustainability involves adopting environmentally and socially responsible practices throughout a company's operations, from sourcing and production to sales and customer engagement. This includes reducing carbon emissions, promoting fair labor practices, supporting the product lifecycle, leveraging blockchain and digital systems, ensuring supply chain transparency, and maintaining ethical governance standards. Therefore, environmental sustainability policies need to be integrated into internal company rules, and, in particular, stakeholders in every sector need to take more responsibility for ESG practices.
Bagzibagli, Erdem & Sahin Advises Enqura Bilgi Teknolojileri on Investment Round
Bagzibagli, Erdem & Sahin has advised Enqura Bilgi Teknolojileri on its USD 2.9 million investment round from Eksim Ventures, Hedef Portfoy Startup Burada GSYF, Lima Ventures, Doga Girisim, Echo Cagri Merkezi, Sistem Global, and private investors.
Considerations in the Determination of the Party-Appointed Arbitrators
One of the important advantages of arbitration proceedings is that the parties can appoint co-arbitrators. Thus, the parties can ensure that those whose impartiality, knowledge and fairness they trust will decide on their dispute. This opportunity raises the question of who the party-appointed arbitrators should be and the criteria by which the parties should appoint the party-appointed arbitrators.
Reform in the Secondary Legislation of EU Competition Law
The European Commission (“Commission") has been in the process of what can be called a reform of secondary legislation for the last few years. The Commission has issued several legislative developments that have reformed European competition law. After a long period of work, in May 2022, The Commission launched the new VBER with extensive changes. This year, the Commission made further changes on the EU Merger Regulation, extended the EU Motor Vehicle Block Exemption Regulation (MVBER), introduced the new EU Revised Horizontal Block Exemption Regulation, introduced Guidelines on Exclusionary Abuses, and announced public consultation under Digital Markets Act (DMA).
Esin Attorney Partnership Advises Denizbank on USD 109 Million Loan from EBRD
Baker McKenzie’s Turkish affiliate Esin Attorney Partnership has advised Denizbank on its USD 109 million loan from the EBRD. Reportedly, Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership advised the EBRD.
Charting CEE’s Changing M&A Tides: An Interview with Markus Piuk of Schoenherr
M&A in the CEE region has been a captivating theater of evolving trends and geopolitical dynamics of late. Schoenherr Partner Markus Piuk shares his insights on the current market trends and delves into the influence of the US-China relationship, the status of Russian-based transactions, the resilience of the CEE M&A market, and the prospects of industry consolidation and growth.
Aksan Advises APY Ventures on Poliark Investment
Aksan has advised APY Ventures on its new investment in Poliark.
Paksoy Advises on Ebebek Magazacilik IPO
Paksoy has advised Turkish baby goods retailer Ebebek Magazacilik on its TRY 1.86 billion IPO.
BRSA Clarifies Turkish Lira Loan Restrictions
On 21 October 2022, the Banking Regulatory and Supervisory Authority (“BRSA”) published BRSA Decision No. 10389 (“Tightening Decision”) to tighten the restrictions set forth under the BRSA Decision No. 10250 dated 24 June 2022 (“Restriction Decision”), which introduced Turkish lira borrowing restrictions for non-financial institutions that are subject to independent audit and BRSA Decision No. 10265 dated 7 July 2022 (“Decision No. 10265” and together with Tightening Decision and Restriction Decision, “Decisions”), which in turn aims to clarify and ensure the effective application of the Restriction Decision.
Nihat Aral Joins Alcon as Head of Legal & Compliance in Turkiye
Former Baker McKenzie Turkish affiliate Esin Attorney Partnership Associate Nihat Aral has joined Alcon as a Head of Legal & Compliance in Turkiye.
Esin Attorney Partnership Advises DFC on USD 100 Million Term Loan Facility for Sekerbank
Baker McKenzie Turkish affiliate Esin Attorney Partnership, working with Hogan Lovells, has advised the US International Development Finance Corporation on a USD 100 million term loan facility for Sekerbank.
Ibrahim Onur Baysal Moves into Private Practice as Partner and Head of Capital Markets at Erdem & Erdem
Former Karsan Automotive Head of Legal Ibrahim Onur Baysal has joined Erdem & Erdem as a Partner and Head of the firm's Capital Markets practice.