We see Turkey as a key market. To that end Linklaters has established a dedicated Turkish team headed by partners with particular knowledge of, and an established practice in Turkey. Our team spend a substantial proportion of their time on Turkish related matters and are fully informed of the latest commercial and legal developments in the market and in regular contact with legal and commercial contacts on the ground. Given our long established track record in Turkey, we have worked with and developed strong relationships with all the major Turkish law firms.

With our experience and track record, expertise across all major practice areas, sectors and geographies and the focus provided by our dedicated Turkey team, we believe that Linklaters can deliver the best results for our Turkey focused clients.

Corporate / M&A

A selection of our corporate/M&A experience includes advising:

  • Qatari-based beIN Media Group, on the acquisition of Turkey’s biggest satellite network and pay-tv provider Digitürk
  • Borsa İstanbul on its strategic partnership with the NASDAQ OMX Group and on the purchase of a 10% stake in Borsa Istanbul by EBRD
  • Yıldız Holding, Turkey's largest food group, on the acquisition of UK-based cookies and snacks maker United Biscuits from Blackstone and PAI Partners
  • Caffè Nero Group on the acquisition of a 50% interest in the joint venture company in Turkey from its joint venture partner, Infinity Invest Holding
  • Sberbank, Russia’s pre-eminent bank and the largest lender in Eastern Europe, on the US$3.5bn acquisition of Denizbank A.Ş. The first ever acquisition of a Turkish bank by a Russian bank, the largest ever acquisition of a foreign bank by a Russian bank and the largest deal to date in EMEA in 2012

Banking

A selection of our banking experience includes advising:

  • Yıldız Holding, Turkey's largest food group, on the financing for the acquisition of UK-based cookies and snacks maker United Biscuits
  • J.P. Morgan as a lender on the US$500m secured portfolio loan for Turkiye Garanti Bankasi
  • BNP Paribas SA and Fortis Bank on the €15m term loan facility for Doğan TV Holding A.Ş., the holding company of the Doğan TV group
  • on the US$100m term loan to partially fund Saudi Oger’s equity participation in Türk Telekom

Capital Markets

A selection of our capital markets experience includes:

  • on the US$1.6bn secondary public offering of shares of Emlak Konut, the largest share offering in the real estate sector in Europe in over five years  and the largest offering of new shares in Emerging Europe, the Middle East and Africa (including Turkey) in 2013, and earier on the US$712m IPO of Emlak Konut, the largest IPO in Turkey in 2010
  • Arçelik A.S. on its €350m 3.875% notes due 2021. This was the first Euro-denominated bond issuance by Arçelik, the largest household appliance manufacturer in Turkey
  • Türk Telekom A.S on the issuance of US$500m 3.75% notes due 2019 and US$500m 4.875% notes due 2024. This transaction was Türk Telekom’s inaugural issuance in the bond markets 
  • on the IPO aspects of a complex divestment by a private equity firm by way of a ‘dual track’ trade sale by TPG of leading drinks producer Mey İçki Sanayi ve Ticaret
  • Türk Telekom on its TRY 2.4bn (approx. US$2bn) privatisation by way of IPO by the Turkish Privatisation Administration of 52.5 billion shares followed by the aborted secondary public offering in 2013

Project Finance

A selection of our project finance experience includes advising:

  • Tüpraş on its US$2.2bn ECA-backed financing of the Izmit Residuum refinery upgrade project and the underwriters on Tüpraş’ subsequent 
     landmark international bond offering
  • EBRD, EIB, IFC, DenizBank and HSBC on the project financing of Rotor Elektrik, a €220m wind farm being developed by the Zorlu group in      Osmaniye, Turkey. This is the first internationally financed wind farm in Turkey and the first time that EIB has lent to a project of this kind in Turkey
  • the sponsors on the US$325m refinancing of the acquisition financing originally used by Akcez (borrower) to purchase SEDAS, a power distribution
    and sales company, in the first round of Electricity Distribution Privatisations from TEDAS (Turkish Government entity)
  • Akenerji, CEZ and the project company on the US$1bn development and project financing of a 900MW gas-fired power plant at Erzin, Hatay Province
  • the lenders on the US$630m financing and construction of a coal-fired merchant power plant with a capacity of 625MW in Iskanderen

“Remains widely regarded as a top international choice for high-profile projects in Turkey , using its London office as a hub for its vast network of projects and energy expertise.”
Chambers Europe 2015, Projects & Energy: Turkey (Desks Based Abroad)

“Heavily present  in the Turkish corporate and M&A market for many years, ... advising on a vast range of substantial private equity, industrial and public transactions involving Turkish clients.”
Chambers Europe 2015, Corporate/M&A: Turkey (Desks Based Abroad)

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