Turunc has advised Istanbul-based Ege Kimya San. ve Tic. A.S. on a collaboration agreement with France-based Amber Energy for designing, building, and operating a cathode active material precursor pilot plant in Sakarya, Turkey.
Private Equity vs. Venture Capital and Applicable Turkish Legislation
In today’s world, both globally and in Turkey, there are an increasing number of corporations that are in constant search of funding and investment either to grow a newly started promising business or to increase the profitability and efficiency of an already established business by moving it to the next level. In order to meet this need, there are also individuals or corporations, that is to say, investors, with the capital to provide the liquid injection in exchange for shareholding position or other certain benefits in the invested company.
NFTs and Personal Data Protection
Data protection legislations generally aim to protect the fundamental privacy rights of natural persons, to have more control over their personal data and to grant more rights over this data belonging to them. In blockchain technology, data protection and confidentiality must be taken into account whenever personal data of real persons are processed. In accordance with GDPR and KVKK legislation, a natural or legal person must be responsible for the establishment and management of the data recording system.
Aydemir Advises Fillo Lojistik on Collective Labor Agreement with Nakliyat-Is
Aydemir Consultancy Legal has advised Fillo Lojistik on its collective labor agreement negotiations with Turkey's Nakliyat-Is trade union and their subsequent agreement.
Evolution of the Turkish Competition Authority's Approach Towards MFN Clauses: E-Marketplace Sector Inquiry Report
On March 14, 2022, the Turkish Competition Authority (“Authority”) published its much anticipated E-Commerce Platforms Sector Inquiry Final Report (“Report”). The Report is extensive in scope and it aims to present a snapshot of the market and provide policy recommendations to address the market failures detected by the Authority. In this article, however, the section on the most favored nation (“MFN”) clauses will be focused on and more particularly it will be discussed whether MFN clauses can be employed by digital platforms in the light of findings of the Report. Decisional practice of the Turkish Competition Board (“Board”) will also be under the spotlight to provide further colour.
The Buzz in Turkey: Interview with Kerem Turunc of Turunc
Inflation, currency depreciation, and low foreign currency reserves might lead to early elections in Turkey, but Turunc Partner Kerem Turunc chooses to focus on the positives: the buzz around the startup scene in the country.
Miray Turkmen Joins Organon as Legal & Compliance Lead
Miray Turkmen has joined pharmaceutical company Organon as its Legal & Compliance Lead, Turkey & South Africa.
Moral & Partners and Cukur & Partners Advise on Taxim Capital's Investment in Yilpar
Moral & Partners has advised Taxim Capital on its investment in Yilpar. Cukur & Partners advised Yilpar and its shareholders.
Cross Border Employment: Is it Legal in Turkey?
Considering the environmental, social, political and economic developments, it is considered as a more profitable and efficient way for companies located abroad to employ foreign nationals in Turkey. If certain conditions are met, it is possible to meet the demands of companies in this direction. Persons who will work in Turkey are required to obtain a "work permit" in accordance with the rules and criteria set by the International Labor Law No. 6735.
Court of Cassation Decides Cooperatives Are Qualified as Merchants
The Joint Chambers of Civil Court of Cassation's ["Court of Cassation"] decision dated November 12, 2021 and numbered 2020/2 E. 2021/3 K. ["Decision"], put an end to the debate regarding the nature of cooperatives. The Court of Cassation concluded that cooperatives, which include partnerships such as consumption, production, credit, and building cooperatives shall be regarded as commercial entities.
Turkish Healthcare Agency Publishes Guidelines on Homeopathic Products
The Turkish Medicines and Medical Devices Agency ("Agency") published the Guideline on License Application for Homeopathic Medicinal Products (“Guideline on Licensing”) and the Guideline on the Packaging, Homeopathic Medicinal Product Information, Legibility and Tracking of Homeopathic Medicinal Products (“Guideline on Packaging”) on March 15, 2022. Both Guidelines are based on Homeopathic Medicinal Products Licensing Regulation (“Regulation”). Within the scope of the Guidelines, the Agency has started accepting license applications for homeopathic medicinal products through the website www.ebs.titck.gov.tr, as of April 1, 2022.
Wolf Theiss and Yavuz & Uyanik & Akalin Advise on 4iG Acquisition of AlbTelecom
Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.
DMA: EU, Turkey and Beyond
Over the recent years, digitalisation and digital services have been at the core of many innovative advantages for businesses and end users alike. These benefits range from online intermediation services to software application stores. This variety offers better and more efficient choices for users while increasing competition within the digital markets industry.
BASEAK Advises on Suwen Tekstil IPO
Dentons’ Turkey affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised on Suwen Tekstil's TRY 425.5 million IPO.
Turunc and Moroglu Arseven Advise on Wellbees' Funding Round
Turunc has advised Wellbees on its recent 212 VC-led funding round. Moroglu Arseven advised 212 VC on the deal.
Recent Significant Amendments in the Consumer Protection Law of Turkey
The Law on the Amendment to the Consumer Protection and Property Ownership Law numbered 7392 [“Amendment Law”] was published in the Official Gazette on April 1, 2022. Most changes will enter into force six months later, i.e., as of September 1, 2022. In this article, we will explain the significant amendments introduced to the Consumer Protection Law No. 6502 ["CPL"] as per the Amendment Law [available in Turkish only].
Yasemin Erden Returns to Private Practice as Turunc Partner
Former Ata Holding Legal Counsel Yasemin Erden has returned to private practice as a Partner at Turunc.
The New Merger Control Regime in Turkey Entered into Force as of May 4, 2022: Sectoral Threshold Exception Explained: Concentrations in Certain Sectors Are Now Expected To Be Way More Frequently Notifiable in Turkey
On March 4, 2022 the Turkish Competition Authority (“Authority”) published the Communiqué No. 2022/2 on the Amendment of Communiqué No. 2010/4 on the Mergers and Acquisitions Subject to the Approval of the Competition Board (the “Amendment Communiqué”). The Amendment Communiqué introduced certain new rules concerning the Turkish merger control regime, which fundamentally affect merger control notifications submitted to the Authority.