Category: Turkiye

AECO Law, working with Pedersoli Gattai, has advised Maticmind on its acquisition of Pagetel from General Dynamics. Paksoy and Freshfields Bruckhaus Deringer reportedly advised General Dynamics.

Pagetel is a turnkey portable shelter manufacturer and designer for military purposes.

Maticmind is an Italian system integrator who has been operating for almost 20 years in the Italian ICT sector. According to AECO, this acquisition is the Turkish leg of Maticmind’s acquisition of General Dynamics Mission Systems Gulf and General Dynamics Mission Systems Italy. “This acquisition will allow Maticmind to enhance its presence in foreign markets and integrate its expertise with that of GDMS-Italy, which has a strong focus on the telco sector, security systems, command and control solutions, and extensive experience in implementing projects for the defense, energy, and protection of critical infrastructures sectors. Upon completion of the transaction, GDMS-Italy will operate under the new name of Page Europa.”

The AECO team included Partners Gokhan Enkur, Yafes Oner, and Emre Atayilmaz, Senior Associate Behiye Gokceli, Associates Kardelen Akca and Alperen Erbay, and Legal Intern Arda Cem Karabulut.

Norton Rose Fulbright’s Turkish affiliate law firm Pekin Bayar Mizrahi has advised Idata on its sale to BLS International Services. Dentons and its Turkish affiliate law firm Balcioglu Selcuk Ardiyok Keki reportedly advised BLS International Services.

Idata provides visa and consular services and is the exclusive visa services provider of the Italian and German governments.

BLS International is an online visa application center.

The Pekin Bayar Mizrahi team included Partners Selin Bayar and Ferhat Pekin and Counsel Galya Kohen Benbanaste.

Editor’s Note: After this article was published, Balcioglu Selcuk Ardiyok Keki confirmed its involvement to CEE Legal Matters. The firm’s team included Istanbul-base Partners Selahattin Kaya, Tamsyn Mileham, and Bora Ikiler, Counsel Baris Yuksel, and Associates Erkin Tuzcular, Basak Armagan, Defne Selcuk, Mehmet Salan, and Elif Naz Semercioglu. The Dentons team included India-based Partner Jha Milind and Principle Associate Ira Swain.

Turunc has advised Bogazici Ventures on its follow-on investment in Hiwell in a round that also saw Eksim Ventures, Unlu & Co, and Kinesis Teknoloji Yatirimlari join. Keco advised Hiwell. Gunduz & Gunduz reportedly advised Kinesis.

Hiwell is an online therapy platform. 

Bogazici Ventures is a Turkish Capital Markets Board-regulated venture capital fund focused primarily on fintech, health tech, retail tech, and gaming.

In 2021, Turunc advised Bogazici Ventures on a TRY 4 million investment in Hiwell (as reported by CEE Legal Matters on September 15, 2021).

The Turunc team included team included Managing Partner Kerem Turunc, Partner Esin Camlibel, and Associates Naz Esen, Baran Ezeli, and Batuhan Eraslan.

The Keco team included Partner Berk Cin, Associate Can Ergun, and Legal Intern Ahsen Ebru Karadayi.

Kinstellar and its Turkish affiliate KST Law have advised Grupo Antolin on the sale of a 45% stake in the Turkish joint venture Ototrim to its JV partner Diniz Holding. SEOR Law reportedly advised Diniz Holding.

The transaction remains contingent on regulatory approval.

Grupo Antolin is a car interior manufacturer.

Diniz Holding manufactures automobiles.

According to Kinstellar, “following this transaction, Grupo Antolin will retain a 5% stake in the joint venture and continue its collaboration with Diniz Holding.”

The Kinstellar team included Partner Mert Elcin and Associates Sila Ozge Sayli and Osman Tugberk Cakirca.

Turunc has advised ComposeVC on the formation of its inaugural venture capital fund, ComposeVC Built-World Fund.

According to Turunc, the New York-based fund will invest in early-stage startups in the property tech, construction tech, and climate tech spaces.

The Turunc team included Managing Partner Kerem Turunc, Partner Iltem Dokurlar, and Associate Naz Esen.

Baker McKenzie and its Turkish affiliate Esin Attorney Partnership have advised Akbank on the issuance of USD 500 million senior unsecured sustainability notes due in 2030. A&O Shearman and its Turkish affiliate Gedik & Eraksoy advised the joint bookrunners.

According to Baker McKenzie, “the issuance, structured under Regulation S and Rule 144A was priced at 7.498%. The net proceeds of the issuance of the notes are intended to be used towards the financing of certain eligible green and/or social projects in accordance with Akbank’s Sustainable Finance Framework.”

Earlier this year, Baker McKenzie and Esin advised on Akbank’s USD 600 million note issuance (as reported by CEE Legal Matters on March 22, 2024). In 2023, Esin advised Akbank on an international syndicated loan (as reported by CEE Legal Matters on November 8, 2023).

The Esin Attorney Partnership team included Partner Muhsin Keskin, Associate Busra Cavas, and Trainee Semih Aktas.

The Baker McKenzie team included Londong-based Partner Megan Schellinger, Senior Associates Maxim Khrapov and James Tanner, Associate Akshay Prasad, and Trainee Tatiane Kalaji.

The A&O Shearman team included London-based Partners Jamie Durham and Sachin Dave, Senior Associates Aditya Vikram and Katrien Wilmots, and Associate Ariel Aiash.

The Gedik & Eraksoy team included Partner Umut Gurgey and Associates Nur Ertekin and Melis Yilmaz Diler.

Paksoy has advised BlaBlaCar on its acquisition of Obilet.

The transaction remains contingent on regulatory approval.

BlaBlaCar is a community-based travel app.

Obilet is an online travel platform operating in the bus, flight, train, and ferry ticketing space as well as car rental and hotel booking businesses.

The Paksoy team included Partner Elvan Aziz, Senior Associate Asli Eryilmaz, and Associate Bengisu Babalik.

Paksoy did not respond to our inquiry on the matter.

Aksan has advised Horoz Logistics on its IPO.

Horoz Lojistik is a company providing domestic and international transport and logistics services.
According to Aksan, the IPO saw the participation of 1.7 million investors.

The Aksan team included Partner Alper Onar and Associate Oguz Madran.

Aksan did not respond to our inquiry on the matter.

Cakmak has advised the EBRD on its EUR 25 million financing to Sabanici Holding subsidiary Cimsa. Baker McKenzie’s Turkish affiliate Esin Attorney Partnership advised Cimsa.

According to Cakmak, the transaction aims to “support Cimsa’s solar power plant and waste heat recovery investments as well as other energy efficiency investments in connection with its cement factory located at Eskisehir, Turkiye.”

“As Cimsa, we are determined to advance our sustainability goals and take important steps in our energy efficiency and decarbonization efforts,” said CEO Umut Zenar. “This collaboration with the EBRD represents a significant milestone in our journey towards a greener future.”

The Cakmak team included Partners Devrim Ergun and Gokhan Okan, Counsels Asli Pabuccuoglu and Basak Ayik, and Associates Yigit Anil Tarman and Pinar Bolukbasioglu.

The Esin team included Partner Muhsin Keskin and Associate Seray Karaalp.

Pelister Atayilmaz Enkur Law Office in Turkiye has split into AECO Law and Pelister Keki Sarac & Co.

Former PAE Named Partners Emre Atayilmaz and Gokhan Enkur were joined by Cagri Cetinkaya and Yafes Oner to establish AECO Law. 

Specializing in employment and real estate matters, Atayilmaz co-founded PAE in 2010. Before that, he was an Associate with Dentons.

Specializing in M&A and private equity, Enkur joined PAE in 2011, also moving from Dentons where he was an Associate. 

Cetinkaya focuses on data and technology, corporate law, commercial agreements, and competition law. He joins from Cetinkaya Pehlivan Barlak, where he has been a Partner since 2016. Before that, he was a Senior Associate with Kinstellar between 2013 and 2016. Earlier still, he was an Associate with Dentons between 2010 and 2012 and with Paksoy between 2006 and 2009.

Focusing on corporate law, M&A, energy, and banking and finance, Yafes Oner joins from the former White & Case-affiliated firm Cakmac Attorney Partnership, where he was an Associate between 2021 and 2024. He started his career with PAE as a Trainee Associate in 2017 and became an Associate in 2018.

Former PAE Named Partner Kerim Pelister is joined by Emre Keki and Senem Sarac as Named Partners of Pelister Keki Sarac & Co. together with Partners Cafer Akbayram, Seden Haskarabag, Gokce Turkoglu, and Nazli Macun.

Specializing in banking and finance and corporate/M&A, Pelister co-founded PAE in 2010. His previous experience includes working as a General Manager of LBT Varlik Yonetim between 2008 and 2009, as a Director/Vice President of Lehman Brothers between 2006 and 2009, and as a Senior Lawyer with Dentons between 2002 and 2006.

Keki focuses on corporate/M&A, real estate, banking and finance, and energy. He joined PAE in 2012. Before that, he was an Associate with Herguner Bilgen Ozeke between 2006 and 2012 and with Dentons legacy firm Salans between 2004 and 2006.

Focusing on corporate law, labor, IP/TMT, and dispute resolution, Sarac joined PAE as a Senior Associate in 2017 and made Partner in January 2022. Before that, she was a Senior Specialist with Ergo Sigorta in 2017, a Senior Associate with Arikan Partners between 2015 and 2017, and an Associate with Aydin & Aydin between 2011 and 2015.