Category: Turkiye

Allen & Overy Shearman Sterling and its Turkish affiliate Gedik & Eraksoy have advised the joint bookrunners on Turkiye Is Bankasi’s debut international Additional Tier 1 bond issuance, raising USD 500 million.

According to Gedik & Eraksoy, the bond, with a 9.125% coupon rate, marks the first international issuance from Turkiye in 2025 and received strong demand from a diverse global investor base.

The Gedik & Eraksoy team included Partner Umut Gurgey, Senior Associate Dilsah Gurses Erulutekin, and Associate Melis Yilmaz Diler. 

The A&O Shearman team included Paris-based Partner Diana Billik and London-based Partner Jamie Durham.

Gedik & Eraksoy did not respond to our inquiry on the matter.

Sullivan & Worcester has advised the European Bank for Reconstruction and Development on its unfunded risk participation in Turkiye’s Akbank SCF program. Allen & Overy Shearman Sterling’s Turkish affiliate law firm of Gedik & Eraksoy reportedly advised the EBRD as well.

According to Sullivan & Worcester, the deal focuses on EBRD’s “unfunded risk participation in Turkiye’s Akbank SCF program in favor of Sok, a leading retailer in Turkiye. The program makes it possible for over 100 suppliers – primarily small and medium-sized businesses that are mostly based in cities struck by the 2023 earthquakes that claimed over 55 thousand lives – to benefit from the SCF program for the first time, providing them with access to affordable working capital solutions.” Furthermore, the firm reports that the deal is supported by the European Commission’s IPA II Fund. 

The Sullivan & Worcester team included Partner Geoffrey Wynne and Counsel Daniela Barrdear.

Aksan has advised APY Ventures on its investment in Minted Connect.

Minted Connect is an embedded finance platform that seeks to make investing in precious metals more accessible.

In 2023, Aksan advised APY Ventures on investment in Gamester Kids (as reported by CEE Legal Matters on October 20, 2023).

The Aksan team included Partner Sevki Ozgur Altindas and Associate Oguz Madran. 

Aksan did not respond to our inquiry on the matter.

Former Ozok Law Office Partners Zeynep Yavuz and Sule Akcan have come together to launch the Akcan Yavuz Attorney Partnership.

According to Akcan Yavuz Attorney Partnership, “this milestone in our career marks the culmination of years of hard work and growth. We are deeply grateful to everyone who has supported us throughout this journey. Your trust and encouragement have been invaluable. We remain committed to delivering top-quality service and focusing on an effective, solution-oriented approach.”

Before setting up the new firm, Yavuz was with Ozok Law Office as a Partner between 2019 and 2025. Earlier, she was a Partner with Akol, Ozok, Namli between 2015 and 2019. Earlier still, she was an Associate with ASC Law Firm between 2011 and 2015 and a Lawyer with the Garanti Bank between 2007 and 2011.

Before teaming up with Yavuz, Akcan was also a part of Ozok Law Office – first as a Senior Associate between 2019 and 2021 and then as a Partner between 2022 and 2025. Earlier, she was with Akol, Ozok, Namli as well, as an Associate between 2015 and 2019. Earlier still, she worked for Aksu, Caliskan, Beygo as an Intern Lawyer between 2012 and 2013 and as an Associate between 2013 and 2015.

Lexist has advised the Aydin Group on its sale of a 5% Stake in the TOM Financial Group to the Dubai Islamic Bank.

The Dubai Islamic Bank is the largest participation bank by asset size in the United Arab Emirates, according to its own website.

In 2024, Lexist advised Aydin Group on the sale of a 20% stake in TOM Financial Group companies to Dubai Islamic Bank (as reported by CEE Legal Matters on January 8, 2024). The latest 5% stake acquisition, according to Lexist, is a consequence of the “Dubai Islamic Bank exercising its call option to increase its shareholding from 20% to 25%.”

The Lexist team included Partner Murat Erbilen, Counsel Duygu Ozturk Dincer, and Associate Ulas Candan.

Aksan has advised Yapi Kredi Portfoy Yonetimi and Istanbul Teknokent on establishing a new venture capital investment fund, Yapi Kredi Portfoy Yonetimi Entertech Birinci Girisim Sermayesi Yatirim Fonu.

According to Aksan, the fund aims to support R&D-focused entrepreneurs and academics, transforming innovation outputs into commercially sustainable products, methods, or services.

The Aksan team included Partner Sevki Ozgur Altindas and Senior Managing Attorney at Law Oyku Okyay Unsal.

Aksan did not respond to our inquiry on the matter.

In January 2025, Kinstellar announced that Quexco Incorporated’s acquisition of Mutlu Aku (as reported by CEE Legal Matters on September 26, 2024) has closed.

As previously reported, 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.

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 Partners Partner Emre Ozer and Mert Elcin, Senior Associate Seyma Olgun, and Associates Sila Sayli, Helin Akbulut, and Nihal Dilan Canturk.

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.

A&O Shearman has advised Aygaz on a USD 20 million term loan facility.

According to the firm, “the facility will be utilized for general corporate purposes, enabling Aygaz to further strengthen its market position and operational capabilities.”

The A&O Shearman team included Partners Adam Fadian and Umut Gurgey, Counsel Omer Sirin, and Associate Nur Ertekin.

A&O Shearman did not respond to our inquiry on the matter.

White & Case Turkish affiliate law firm GKC Partners has advised Koni Teknik Muhendislik on its acquisition of all of the share capital of Socar Turkiye. Kilinc Law & Consulting advised Socar and its affiliates Bursagaz and Kayserigaz.

Koni Teknik Muhendislik is a subsidiary of Aksa Natural Gas.

Socar Turkiye holds an 80% stake in natural gas companies Bursagaz and Kayserigaz.

The GKC Partners team included Partner Emre Ozsar, Associates Asli Gulum, Umut Korkmaz, and Batuhan Akarsu, and Legal Intern Said Emir Bodakci.

The Kilinc Law & Consulting team included Partner Seray Ozsoy Yavuz and Senior Associates Gokce Ergun, Demet Ozkahraman Akcaalan, and Oguzcan Dozcan.

Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki have advised Grand Games on its USD 30 million series A led by Balderton Capital with participation from existing investors Bek Ventures and Laton Ventures. Kinstellar’s Turkish affiliate KST Law advised Balderton. Baker McKenzie Turkish affiliate Esin Attorney Partnership reportedly advised BEK Ventures.

Grand Games is a Turkish gaming company.

The BASEAK team included Partner Selahattin Kaya and Associates Dilruba Guldogan and Simge Yilmaz.

The KST Law team included Partner Emre Edmund Ozer and Associates Helin Akbulut and Nihal Dilan Canturk.