Sat, Apr
67 New Articles

China's Global Law Office has advised a consortium consisting of  China Merchants Expressway Network & Technology Holdings Co., Ltd., China Merchants Union Limited, Zhejiang Expressway Co., Ltd., Jiangsu Expressway Company Limited, Sichuan Expressway Company Limited, and Anhui Expressway Company Limited on its acquisition of 51% of the project company of Istanbul's Third Bridge and Northern Marmara Motorway project.

Read more: Global Law Office Advises Chinese Consortium on Turkish Infrastructure Project

Recent amendments to the Turkish legislation regarding electronic marketing communications introduced a centralized management system for obtaining, exercising and tracking the opt-in/opt-out requests as well as complaints of the recipients of electronic commercial communications. Service providers sending electronic commercial communications to customers will need to register with this new centralized management system, and notify and/or process opt-in and opt-out requests and complaints regarding electronic commercial communications through this centralized management system.

Read more: Turkey Introduces a Centralized System for Electronic Marketing Communications

Former Erdemir Head of Legal Cemile Gunes Dinlenmis has joined Celebi Aviation Holding as Legal Director for Turkey & EMEA, working under Head of Legal Affairs Zeynep Cetiner.

Read more: Cemile Gunes Dinlenmis Becomes Legal Director for Turkey & EMEA at Celebi Aviation Holding

The Pelister Atayilmaz Enkur Law Office has advised the Hoshizaki Corporation on its acquisition of 28.6% of shares in Oztiryakiler Madeni Esya Sanayi ve Ticaret via a share transfer from the Oztiryakiler family and the subscription of new shares following a capital increase in Ozti. The Oztiryakiler family was advised by Taboglu Attorneys at Law. Financial details of the transaction, which was cleared by the Turkish Competition Board on December 6, 2019, and closed on December 17, 2019, were not disclosed.

Read more: PAE and Taboglu Advise on Hoshizaki's Acquisition of Shares in Oztiryakiler Madeni Esya

Turunc has advised BigChefs on its acquisition of Turkey's NumNum cafe/restaurant chain from the Is Girisim private equity fund and Chef Mehmet Gurs. The sellers were advised by the Ozbek Law Firm on the transaction, which is expected to close in 2020.

Read more: Turunc and Ozbek Advise on BigChefs Acquisition of Turkish Restaurant Chain

Paksoy and Shearman & Sterling have advised Telus International on the acquisition of Competence Call Center from European private equity firm Ardian. The transaction is expected to close within the first quarter of 2020 after regulatory approvals are obtained. CCC was reportedly advised by Latham & Watkins and Gen Temizer Ozer.

Read more: Paksoy and Shearman & Sterling Advise on Telus International's Acquisition of Competence Call Center

Dismissal of the board members of a joint stock company is regulated under the Turkish Commercial Code numbered 6102 (“TCC”).  According to Article 408/2 of the TCC, general assembly of shareholders is granted with the sole power to appoint and dismiss board members. The scope and implementation of such power is defined under Article 364 of the TCC. Pursuant to such article, board members can be dismissed through including an item in the agenda of the general assembly meeting of shareholders for dismissal or with just cause even if the dismissal is not in the agenda of the general assembly meeting of shareholders.

Read more: Dismissal of Board Members in Turkey

Paksoy and Shearman & Sterling have advised DBAG Fund VII and Deutsche Beteiligungs AG on the acquisition of a majority stake in Cartonplast Group from London-based financial investor Stirling Square Capital Partners. The Ozbek Attorney Partnership advised Stirling Square Capital on the transaction, as well as, reportedly, Latham & Watkins, J&A Garrigues, Pinheiro Neto Advogados, and Noerr Biedecki.

Read more: Paksoy, Shearman & Sterling, and Ozbek Advise on Deutsche Beteiligungs' Acquisition of Majority...

The concept of financial restructuring was introduced in Turkey following the currency crisis of August 2018. Financial restructuring became the major item on the agenda of Turkish financial institutions, and regulators intervened immediately, working to create a useful legal framework for the process. The joint efforts of the Banking Regulatory and Supervisory Authority (the BRSA) and the Banks Association of Turkey (the BAT) resulted in the Framework Agreement. Nevertheless, restructurings commenced pursuant to the Framework Agreement are progressing very slowly, and in most cases have reached an impasse.

Read more: Challenges of Turkish Financial Restructuring

BTS & Partners has advised Biznet Bilisim Sistemleri ve Danismanlik Sanayi Ticaret and its former shareholder, FVD AS, on FTA Bilisim Hizmetleri’s investments in the company and SR Bilisim Yonetim Hizmetleri Ticaret Securrent.

Read more: BTS & Partners Advise Biznet on Investment by FTA Bilisim

Dentons and Balcioglu Selcuk Akman Keki Avukatlik Ortakligi have advised Czech-based hydroelectricity group Energo-Pro on securing EUR 175 million in financing for the development, construction, and operation of the Alpaslan 2 dam and hydropower plant in Turkey. The financing was arranged by MUFG Securities EMEA plc and Ceska Exportni Banka, and is partially backed by the Export Guarantee and Insurance Corporation, with HSBC acting as the security agent. Allen & Overy reportedly advised MUFG and HSBC on the deal.

Read more: Dentons and BASEAK Advise Energo-Pro on Financing of Alpaslan II Project

Bezen & Partners has advised Transmark Turkey, a Turkish geothermal development company, on an EPC contract with Chinese supplier Zheijang Kaishan Compressor and its subsidiary Open Mountain Energy for the construction of a binary geothermal power plant in Canakkale, Turkey.

Read more: Bezen & Partners Advises Transmark Turkey on Geothermal Power Plant EPC Contract

On 11 November 2019, the European Union adopted a legal framework for restrictive measures against Turkey. The EU is thus responding to Turkish exploratory drilling for natural gas deposits off the Cypriot coast, which Cyprus and the European Union consider illegal. The legal framework will make it possible to sanction individuals or companies responsible for or involved in drilling activities in the Eastern Mediterranean. However, no specific measures have been imposed yet.

Read more: Turkey as Embargo Country? – European Union Looks Into Drillings Off Cyprus

Turkey Knowledge Partner

NAZALI offers a broad range of services in the fields of Tax, Audit, Corporate and Commercial Law, Mergers & Acquisitions, Corporate Finance, Banking, Finance and Capital Markets, Protective Legal Services and Dispute Resolution, Personal Data Protection and Privacy, Social Security and Labor Law, Occupational Health and Safety, Competition Law, Intellectual Property Law and R&D, Compliance and White-Collar Crimes, Administrative Law, Real Estate Law, Customs and Foreign Trade, Accounting and Payroll, Financial Incentives and Advisory Services and Public Administration and Compliance through its partners, associates and consultants of different seniorities who have both public and private sector experience.

What sets NAZALI apart from others is that NAZALI offers a truly comprehensive service to its clients with experts from different disciplines working collaboratively as a team under one roof enabling us to evaluate all dimensions of legal matters together with financial and technical matters.

The services that NAZALI provides to its clients include the most appropriate solution with the support of technical departments specialized in their fields. In this context, NAZALI associates are supported by NAZALI technical team and work alongside the experts in the fields of finance, social security and customs matters. NAZALI has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

As conditions continuously evolve, NAZALI always aims to further itself remaining true to its motto “GROW WITH KNOWLEDGE” and has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

Firm's website: http://www.nazali.com

Our Latest Issue