Category: Turkiye

Kinstellar and its Turkish affiliate KST Law, working with Bowmans, have advised Quexco Incorporated on its USD 110 million acquisition of Mutlu Aku from Metair International Holdings Cooperatief. Linklaters, working with Webber Wentzel and Taboglu, advised Metair.

The transaction remains contingent on regulatory approval.

Quexco Incorporated is a US-based private holding company with investments in the lubricants space.

Mutlu Aku is an auto battery manufacturer and waste battery recycling facility owner in Turkiye.

Metair International Holdings Cooperatief is a member of Metair Group, a South African listed company.

The Kinstellar team included Partner Partner Emre Ozer, Senior Associate Seyma Olgun, and Associate Sila Sayli. 

The Linklaters team included Warsaw-based Partner Daniel Cousens and further team members in Duesseldorf and London.

The Taboglu team included Partner Esin Taboglu, Senior Associate Sena Karadayi, and Associate Zeysan Alkis.

Turunc, working with Greenberg Traurig, has advised Riverwood Capital on its investment in Picus Security. White & Case reportedly advised Picus Security.

Picus Security is a Turkish-American cybersecurity company focused on breach and attack simulation and security validation.

Riverwood Capital is a US-based private equity fund.

In 2020, Turunc advised Riverwood Capital on its investment in Insider (as reported by CEE Legal Matters on July 22, 2020).

The Turunc team included Managing Partner Kerem Turunc, Founding Partner Noyan Turunc, Partners Iltem Dokurlar and Esin Camlibel, and Associates Naz Esen, Baran Ezeli, Ovgu Kopal, Beste Yildizili Ergul, Batuhan Eraslan, and Canberk Taze.

Aksan has advised the selling shareholders including Horoz Lojistik on the sale of Horoz Bollore to Bollore Logistics.

Horoz Bollore is a joint venture providing air and sea freight forwarding services.

Bollore Logistics is a subsidiary of the French CMA CGM Group.

In 2024, Aksan advised on Horoz Logistics’ IPO (as reported by CEE Legal Matters on July 2, 2024).

The Aksan team included Senior Partner Onur Ergun and Associate Gokcenaz Kaya.

Aksan did not respond to our inquiry on the matter.

Burcu Dal Gokalp has joined Guner Law as Partner.

Before the move, Gokalp spent seven months at the helm of the Gokalp Law Firm and, earlier, almost two years leading Gokalp Arslan Law Firm, which she co-founded in 2022.

Between 2011 and 2021, Gokalp was a Legal Counsel with Eczacibasi Holding. Prior to that, she was an Associate with Paksoy between 2005 and 2011.

Gokalp started her career in Yildirim Law Firm, where she was an Associate between 2003 and 2004.

Paksoy has advised ACG Acquisition Company on its acquisition of Polimetal.

According to Paksoy, “ACG Acquisition Company is a special purpose acquisition company established and managed in the UK by a team of mining sector veterans.” 

Polimetal Madencilik Sanayi ve Ticaret is a mining company operating in Balikesir and owned by Lidya Madencilik, which is itself a subsidiary of Calik Holding.

The Paksoy team included Partners Elvan Aziz, Sera Somay, and Togan Turan, Counsel Zekican Samli and Associates Beritan Zorkun Arik, Bulent Ozturk, and Selen Toma.

Paksoy didn’t respond to our inquiry on the matter.

Kinstellar and its Turkish affiliate KST Law have advised Eleven Fund III Cooperatief on its USD 1.1 million seed investment in Magfi. May Law Office advised Magfi.

Eleven Fund III Cooperatief is a multi-strategy growth fund.

Magfi is a software-as-a-service platform based in Istanbul. According to Kinstellar, it “enables seamless advertising across Telegram and Discord communities using machine learning and AI. The investment will support Magfi’s planned expansion into the Brazilian market.”

The Kinstellar team included Partner Edmund Emre Ozer and Associates Helin Akbulut and Hatice Nur Arslan.

The May Law Office team included Partner Melike Akan Yuksel, Senior Associate Ahmet Basaran, and Associate Zeynep Ezgi Yildiz.

Turunc, working with DLA Piper’s Atlanta office, has advised ICV Partners on its sale of Horizon Air Freight to GHK Capital Partners. Davis Polk & Wardwell reportedly advised the buyer.

ICV Partners is a private equity firm focused on lower-middle market companies in North America.

Horizon Air Freight is a U.S.-based provider of specialized global marine logistics services.

GHK Capital Partners is a U.S.-based private equity firm.

The Turunc team included Founding Partner Noyan Turunc, Managing Partner Kerem Turunc, and Associates Naz Esen, Ovgu Kopal, Canberk Taze, and Baran Ezeli.

Aksan Law Firm has advised Livzym Biotechnologies on a recent investment round led by Lallemand via its Swiss affiliate Danstar Ferment.

Livzym Biotechnologies produces industrial enzymes and offers solutions in food processing, textile processing, animal feed additives, and biofuel production.

In 2022, Aksan Law Firm advised on another Livzym Biotechnologies’ financing round (as reported by CEE Legal Matters on November 2, 2022).

The Aksan Law Firm team included Partner Sevki Ozgur Altindas and Associate Semiha Kose.

Aksan Law Firm did not respond to our inquiry on the matter.

Former Verdi Partner Ayse Demirel Atakan has joined Paksoy as a Partner in the firm’s corporate law, M&A, and private equity practice.

Before the move, Demirel Atakan spent almost 14 years with Verdi, nearly seven of which as a Partner. Earlier, she spent over three years as an Associate with Sullivan & Cromwell in New York.

According to Paksoy, “with over 15 years of experience, Ayse brings a solid background in managing complex transactions, corporate governance, and private equity investments.”

Clifford Chance has advised arrangers and dealers Emirates NBD Capital and Standard Chartered Bank on the establishment of Albaraka MTN Ltd.’s Shari’a-compliant trust certificate issuance program with Albaraka Turk Katilim Bankasi as the obligor.

According to Clifford Chance, “Albaraka Turk is the first interest-free Islamic bank established in Turkiye and listed on the Borsa Istanbul. The program represents the first-ever international public sukuk program by a Turkish participation bank.” Moreover, the firm reports that the program was “admitted to the London Stock Exchange’s International Securities Market and is the first in Turkiye under which sukuk may be issued in the form of senior unsecured sukuk or subordinated tier 2 capital sukuk. The program also allows for the issuance of sustainable sukuk, in accordance with Albaraka Turk’s sustainable finance framework.”

The Clifford Chance team included Istanbul-based Partner Sait Eryilmaz, Senior Associate Ali Altiparmak, Associate Bilgesu Cakmak, and Trainee Solicitor Aykan Karpuzcu as well as further team members in Dubai.

Clifford Chance did not respond to our inquiry on the matter.