Category: Turkiye

The Gen Temizer Erdogan Girgin Attorney Partnership has advised Eleven Ventures on its investment in Estonian start-up Cognitiwe.

Cognitiwe offers AI for retail and manufacturing products and solutions in stock management, retail shrinkage, quality, and health & safety monitoring. According to the law firm, its operations are in Turkiye aim to “revolutionize retailers’ and manufacturers’ operations with predictive Vision AI technology for enhanced operational efficiency and sustainability.”

Eleven Ventures, headquartered in Sofia, Bulgaria, is a Southeast Europe venture capital fund established in 2012 with over 150 collective investments to date.

The Gen Temizer team was led by Managing Associate Yagmur Ipek Ozen and included Associates Ece Gun and Firat Erin.

Gen Temizer did not respond to our inquiry on the matter.

Paksoy, working with Herbert Smith Freehills, has advised the joint lead managers of QNB Finansbank’s USD 500 million issuance of 2029 bonds. Mayer Brown reportedly advised the issuer.

The joint lead managers included Citigroup Global Capital Markets, Emirates NBD, JP Morgan, Mizuho, QNB Group, Societe Generale, and Standard Chartered.

QNB Finansbank is a Turkish bank established in 1987 with headquarters in Levent, Istanbul.

According to Paksoy, QNB Finansbank’s issuance is aiming to “fund its green and social projects under its USD 5 billion global medium term note program.”

Back in 2021, Paksoy advised the EBRD on its investment in QNB Finansbank’s green bonds (as reported by CEE Legal Matters on June 24, 2021).

The Paksoy team included Partner Omer Collak, Counsel Merve Kurdak, and Associate Melis Gencol Ince.

Paksoy, working with Mayer Brown, has advised Turk Ekonomi Bank on its EUR 100 million issuance of tier 2 notes due 2034, invested by the International Finance Corporation. Gedik & Eraksoy, working with Allen & Overy Shearman, reportedly advised the IFC.

According to Paksoy, “the financing received will be channeled to SMEs focusing on financing projects with climate consciousness, small businesses owned by women, and agricultural enterprises.”

Earlier this year, Paksoy advised Turk Ekonomi on a USD 400 million issuance (reported by CEE Legal Matters on February 1, 2024).

The Paksoy team included Partner Omer Collak, Counsel Merve Kurdak, and Associate Melis Gencol Ince.

Norton Rose Fulbright affiliate law firm Pekin Bayar Mizrahi has advised the shareholders of Sincanli Tractor on the sale of shares to TVH Parts. Baker McKenzie’s affiliate law firm of Esin Attorney Partnership advised TVH.

Sincanli Tractor is a tractor spare parts supplier in Turkiye.

TVH Parts is a Belgian company that provides spare parts and accessories for industrial and agricultural equipment.

The Pekin Bayar Mizrahi team included Partner Senem Golge Yalcin and Counsel Galya Kohen Benbanaste.

The Esin Attorney Partnership team included Partner Duygu Turgut, Senior Associate Sila Pinar, and Associates Berk Kispet and Bera Pektas.

Former Managing Associate Dila Topuz has been promoted to a Partner position with Istanbul’s Gen Temizer Erdogan Girgin Avukatlik Ortakligi – with the firm itself recently announcing the name change from the previously used Gen Temizer Ozer.

According to the firm, “with over a decade of experience, Dila has been a driving force in our firm’s success. Her expertise spans cross-border mergers and acquisitions, private equity transactions, and capital markets.”

Topuz has been with her current team since 2012, after previously having served as Official Legal Intern with White & Case for 14 months.

Paksoy has advised Koton founding shareholders Yilmaz Yilmaz and Gulden Yilmaz on the company’s IPO. Baker McKenzie Turkish affiliate Esin Attorney Partnership worked on the transaction as well.

Koton is a Turkish fashion brand with nearly 450 stores in 28 countries.

According to Paksoy, the public offering was oversubscribed and the size was almost TRY 4.2 billion. The company began trading on Borsa Istanbul’s Star Market on May 10, 2024.”

The Paksoy team included Senior Partner Serdar Paksoy and Partners Nihan Bacanak, Omer Collak, Okkes Sahan, and Togan Turan.

The Esin Attorney Partnership team included Partner Muhsin Keskin, Senior Associate Zeki Nizam Cebe, and Associates Ece Deniz Gunel, Oyku Ruya Turkogullari, and Ali Cetin.

Former Ciftci Attorney Partnership Counsel Deniz Gocuk has been promoted to a Partner position within the Istanbul-based Clifford Chance affiliate law firm.

Part of Ciftci’s Corporate team, she specializes in M&A, construction, contracts, IP, energy, banking & finance, and administrative law, as well as employment and insurance litigation, among others. A graduate of Istanbul University, she joined Ciftci back in 2014.

“Deniz has been an integral support to the Corporate practice as a member since 2014, and she will continue to add value to our firm’s growth,” the Ciftci Attorney Partnership announced. “Wishing her the best of success in her new role!”

Paksoy has advised Iyzico on the acquisition of Paynet from Arena Bilgisayar. Baker McKenzie Turkish affiliate Esin Attorney Partnership advised the sellers.

The transaction remains contingent on regulatory approval.

Iyzico operates in the Turkish financial technology sector and online payment services and uses artificial intelligence-based payment technologies. Paynet is a payment services company.

According to Paksoy, “Iyzico, by integrating Paynet’s expertise, technology, and customer base into its own system once the transaction is completed, will deliver an even more comprehensive service set with the inclusion of B2B payments and collections solutions offered by Paynet.”

Back in 2019, Paksoy advised on PayU’s acquisition of Iyzico (as reported by CEE Legal Matters on June 27, 2019).

The Paksoy team included Partner Serdar Ildirar, Senior Associate Melisa Sevinc Atilganer, and Associate Sibel Postacioglu.

The Esin Attorney Partnership team included Partner Orcun Solak, Senior Associate Mehmetcan Atasoy, and Associates Fatma Bingol and Kaan Karagol.

Turunc’s Yasemin Erden – a Partner at the firm for the past two years – has moved to an Of Counsel position within the Istanbul-based outfit. 

Focusing on the firm’s mergers and acquisitions and technology practices, Erden’s sector experience includes retail, finance, construction, logistics, manufacturing, and technology. She joined the firm back in 2022, as a Partner.

Before that, Erden spent almost seven years with Ata Holding as Legal Counsel between 2014 and 2020, seven months with the Guner Law Office in 2013, and two years with Rhea Asset Management as a VP and Legal Counsel between 2010 and 2012. Earlier, she spent two years with Ashmore Private Equity as Turkey Legal Counsel and almost six years with Pekin & Bayar, which she joined in 2002. 

Norton Rose Fulbright Turkish affiliate Pekin Bayar Mizrahi has advised the founder of Derivex Teknoloji on the sale of a minority stake in the company to the Startup Burada VC fund. Atar Avci advised the buyer.

Derivex Teknoloji is a financial technology solution provider and consulting company with a particular focus on financial derivatives.

Startup Burada is a Turkish venture capital fund managed by Hedef Portfolio Management.

The Pekin Bayar Mizrahi team included Senior Partner Sertac Kokenek and Senior Associate Zeynep Tezan.

The Atar Avci team included Partner Ilyas Avci and Counsel Can Kurdak.