Category: Turkiye

Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki have advised Agave Games on its USD 18 million Series A funding round. Kinstellar Turkish affiliate KST Law and Mariott Harrison advised Felix Capital and Balderton Capital who co-led the round.

The funding round also included e2vc.

Agave Games is a gaming technology venture.

The BASEAK team included Partner Okan Arican, Senior Associate Ertugrul Akinci, and Associates Muge Atalay and Efe Ozen.

The Dentons team included London-based Partner Joseph Altendorff, Senior Associate Danni Hofmeyr, and Associate Marina Aspinall.

The KST Law team included Partner Edmund Emre Ozer and Associate Sila Ozge Sayli.

White & Case’s Turkish affiliate law firm GKC Partners has advised Turkiye Is Bankasi and TSKB on EUR 342 million financing for the Ankara Esenboga airport. Clifford Chance advised TAV Airports as the borrower.

According to Clifford Chance, the financing consists of a 13-year, EUR 300 million term facility to refinance an existing bridge loan and fund capacity increase works; a EUR 10 million revolving facility for short-term working capital; and a EUR 32 million non-cash facility for letter of guarantee obligations connected to operating the airport.

The GKC Partners team included Managing Partner Guniz Gokce, Partners Sebastian Buss and Ates Turnaoglu, Associates Aybike Iplikci, Baran Abur, and Goktug Yigiter, and Legal Interns Tibet Seheri and Esin Kurtulus.

The Clifford Chance team included Istanbul-based Partner Sait Eryilmaz, Senior Associate Basar Kirka, and Associates Fatih Goktug Ipin, Utku Aydin, and Melisa Mengu and Paris-based Partner Nikolai Eatwell.

Kolcuoglu Demirkan Kocakli has advised Volt Motor and its individual shareholders on the sale of the company to WEG. Herguner advised WEG.

Volt Motor, a Saya Group company, is a Turkish electric motor manufacturer.

WEG is a manufacturer of electric motors.

The Kolcuoglu Demirkan Kocakli team included Partner Serhan Kocakli, Senior Associate Ceyda Betul Gulmezoglu, and Associates Duygu Yurtal and Nilsu Gozukara.

The Herguner team included Partners Umit Herguner and Deniz Tuncel and Senior Associate Basak Etik.

Former Baker McKenzie affiliate law firm Esin Attorney Partnership Co-Head of the Competition Practice Sinan Diniz has joined KST Law as a Partner.

According to KST law, Diniz “brings over a decade of experience in Turkish competition law. Sinan’s expertise spans merger control, antitrust investigations, exemption filings, and compliance programs.”

Before the move, Diniz was with Esin Attorney Partnership as an Associate between 2016 and 2017, a Senior Associate between 2017 and 2024, and most recently as its Co-Head of the Competition Practice. Earlier, he worked for Elig as an Associate between 2012 and 2015 and as a Senior Associate between 2015 and 2016.

“We are thrilled to welcome Sinan at KST Law,” commented Partner Emre Ozer. “His expertise and proven track record in Turkish competition law will be a valuable asset to both our clients and our team as we expand our services and strengthen our presence in Turkey.”

“I am excited to join KST Law and look forward to contributing to its dynamic growth in Turkey and beyond,” added Diniz. “Together, we will provide exceptional competition law services and value to our clients.”

A&O Shearman and its Turkish affiliate law firm Gedik & Eraksoy have advised the joint bookrunners of Garanti BVA’s USD 750 million fixed rate resettable tier 2 notes and the dealer managers on the tender for the USD 750 million nominal value of the tier 2 bond issued in 2017.

According to A&O Shearman, the transaction “represents the highest tier 2 amount issued by a Turkish bank in 2024.”

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

The A&O Shearman team was led by London-based Partners Diana Billik and Jamie Durham.

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

Norton Rose Fulbright’s Turkish affiliate Pekin Bayar Mizrahi has advised Renewable Energy Systems Limited and its Turkish subsidiary RES Anatolia Holding on the sale of Esref Enerji Uretim to Metgun Enerji. Sole practitioner Sinem Demiray Gunesol advised Metgun Enerji.

Renewable Energy Systems Limited is an independent renewable energy company.

Esref Enerji Uretim and Metgun Enerji are Turkish renewable energy companies.

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

White & Case’s Turkish affiliate law firm GKC Partners has advised joint bookrunners Citi Global Markets Limited and Morgan Stanley on Gdz Elektrik’s Rule 144A/Reg S USD 400 million issuance. Unsal Attorney Partnership advised Gdz Elektrik.

Gdz Elektrik is a Turkish utilities company.

The GKC Partners team included Partners Ates Turnaoglu and Derin Altan, Associates Can Argon, Ahmet Ekin Cinar, and Hasan Karakelle, and Legal Intern Muhammed Asula.

The Unsal Attorney Partnership team included Managing Partner Furkan Unsal, Partners Sait Baha Erol and Omer Faruk Senol, Senior Associate Ahmet Erturk, and Associate Zeynep Yurttutmus.

White & Case’s Turkish affiliate GKC Partners has advised Esas Holding on the placement of approximately 19.2 million ordinary shares in Pegasus Airlines to two international institutional investors and an international financial investor residing outside of Turkiye.

Citi Global Markets Limited was the sole placement agent.

Esas Holding is a venture capital and private equity company.

According to GKC Partners, these shares represent approximately 3.85% of Pegasus’s issued share capital. “The transaction was priced at TL 217.53 per share, reflecting a 7% discount to the previous closing price, and raised gross proceeds of approximately TL 4.2 billion. The Transaction was settled through an off-exchange transaction outside of Borsa İstanbul. “

The GKC Partners team included Counsel Derin Altan.

Sadik & Capan has advised Koc Holding on its acquisition of 65% shares in Stembio. Acar Ergonen advised the seller, Ibrahim Ozsu.

Stembio is a biotechnology company operating in Turkiye.

The Sadik & Capan team included Managing Partners Serra Sadik Hiziroglu and Nazli Tonuk Capan and Associate Seda Koprulu.

The Acar Ergonen team included Managing Partner Duygu Acar Yucesoy, Partne Asli Tezcan, and Associates Sena Yerli and  Sila Eyvaz Sir.

CCAO has advised Turkiye Sinai Kalkinma Bankasi on financing facilities to Metafor Yenilenebilir Enerji and Knot Enerji for their respective solar and hybrid solar energy power plant projects. 

TSKB is the Industrial Development Bank of Turkey.

Metafor Yenilenebilir Enerji and Knot Enerji, subsidiaries of Is Enerji, develop energy projects.

The CCAO team included Partner Onur Taktak, Senior Associate Onur Gorkem Koksal, and Associates Ecem Ozbek and Can Demirkan.