Bagzibagli Erdem & Sahin has advised Geo Jeotermal Yatirimlari on receiving an investment from Iz Investment Holding and private investors.
Geo Jeotermal is a Turkish company that operates in the geothermal sector and was valued at USD 40 million for the investment round.
Iz Investment Holding is a Borsa Istanbul-listed investment holding company.
The Bagzibagli Erdem & Sahin team was led by Partner Orhan Erdem and included Attorney-at-Law Ilayda Goktas.
Bagzibagli Erdem & Sahin has advised Up Venture Capital on its investment in Yamy Studio.
Yamy Studio is an Istanbul-based game design and development company.
Up Venture Capital is a London-based venture capital investment company.
The Bagzibagli Erdem & Sahin team was led by Partner Orhan Erdem and included Attorney-at-Law Ilayda Goktas.
Aksan has advised PhiTech Bioinformatics on a new investment round.
PhiTech Bioinformatics deals in translating genome-wide molecular data into biotechnology solutions, primarily for use in precision medicine.
Aksan’s team included Partner Alper Onar, Managing Associate Emre Subasi, and Senior Associate Merve Kutukcuoglu Karpuzcu.
Aksan did not respond to our inquiry on the matter.
Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised the China Baowu Steel Group Corporation Limited on the global merger control and foreign investment filings for its full acquisition of the Sinosteel Group Corporation Ltd.
According to Clifford Chance, the China Baowu Steel Group, a state-owned iron and steel company headquartered in Shanghai, is the largest iron and steel company globally.
Sinosteel is a state-owned enterprise engaged in developing and processing metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, and related engineering technical service and equipment manufacture.
The Ciftci Attorney Partnership team included Partner Itir Ciftci, Senior Associate Sabri Kaya, and Associate Orhun Koray Ozbek.
The Clifford Chance team was led by Beijing-based Partner Yong Bai and included lawyers from the firm’s offices in Beijing, Sydney, Tokyo, and Duesseldorf.
The firms did not respond to our inquiry on the matter.
Paksoy has advised Turkish flour producer Eksun Gida on its TRY 980 million IPO on Borsa Istanbul’s Star Market.
Eksun Gida is an agriculture sector company that owns and operates the Sinangil brand.
According to Paksoy, “more than 1.2 million investors placed orders – this is a record number in the history of Borsa Istanbul. The book building was based on a fixed price of TRY 48.90 and it was 15 times oversubscribed on average. The company is trading on Borsa Istanbul’s Star Market as of March 24, 2023. Eksun Gida raised TRY 980 million in this IPO which will partly be invested in renewable energy to meet the energy needs of its factories.”
Paksoy’s team included Partner Omer Collak, Senior Associate Merve Kurdak, and Associates Melis Gencol Ince and Bengisu Yilmaz.
Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership have advised Akfen Holding on its acquisition of the approximately 33% outstanding stake in Akfen Yenilenebilir Enerji from the EBRD and the IFC.
Established in 1976, Akfen Holding is a Turkish infrastructure group. Akfen Yenilenebilir Enerji has an installed power portfolio of approximately 700 megawatts.
According to Dentons, “the acquisition gave Akfen Holding a 100% shareholding in its renewable energy subsidiary Akfen Yenilenebilir Enerji, and marked the end of EBRD and IFC’s long-standing equity investment in the company. Following this transaction, Akfen Yenilenebilir Enerji’s shares were offered to the public on the Borsa Istanbul. The IPO reached a volume of TRY 76 billion and was 23 times over-subscribed, making it one of the most successful IPOs in recent years in Turkey.”
The Dentons team included Partner Nadia Cansun.
BASEAK’s team included Partner Dogan Eymirlioglu, Senior Associate Aysegul Sifaver, and Associate Derin Aydin.
The firms did not respond to our inquiry on the matter.
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised TechOne Venture Capital on its investment in Vanora Ventures.
TechOne is an Istanbul-based venture capital fund. Vanora Ventures is an Istanbul-based venture studio providing support to technology products.
The BASEAK team was led by Partner Okan Arican and included Associate Dilruba Guldogan and Legal Intern Defne Selcuk.
BASEAK did not respond to our inquiry on the matter.
The Aksan Law Firm has advised APY Ventures on its investment in the Turan financial technology company.
Founded by Albaraka Asset Management, APY Ventures is a venture capital fund that focuses on investing in Turkey-based technology startups. Turan provides an application for financial services in Turkey and other Turkic states.
The Aksan team was led by Partner Alper Onar and included Managing Attorney Emre Subasi and Lawyer Doruk Gokoglu.
Aksan did not respond to our inquiry on the matter.
Paksoy, working alongside Morgan Lewis, has advised Ulker Biskuvi on obtaining a sustainability-linked loan from a syndicate of international lenders.
Ulker Biskuvi is a Turkish food and beverage manufacturer based in Istanbul. Its products are exported to 110 countries.
Paksoy’s team included Partner Sera Somay and Associate Muhammed Tosun.
Paksoy did not respond to our inquiry on the matter.
Turunc and Aksan have advised Bogazici Ventures and APY Ventures, respectively, on their investment in Kalfa in a round that also included Mindvest, Mikro Yazilim, and Hedef Portfoy. SCH-Legal reportedly advised Kalfa.
Kalfa is a digital platform for accountants.
Bogazici Ventures is a Turkish Capital Markets Board-regulated venture capital fund focused primarily on fintech, health tech, retail tech, and gaming.
APY Ventures is an umbrella bringing together venture capital investment funds founded and managed by Albaraka Asset Management. Based in Turkey, it focuses on investing in early-stage technology startups.
Turunc’s team included Managing Partner Kerem Turunc, Partners Esin Camlibel and Yasemin Erden, and Associates Beste Yildizili Ergul, Elif Eryilmaz, and Baran Ezeli.
Aksan’s team included Partner Alper Onar, Managing Attorney at Law Emre Subasi, and Attorney at Law Doruk Gokoglu.