Edwards Wildman's Istanbul office was part of a three-member consortium advising the Turkish Privatization Administration on the privatization of the Salipazari Port, the sole cruise port of Istanbul.
The firm was joined in the consortium by Burgan Yatirim Menkul Degerler (providing brokerage and corporate finance services and asset management) and Mag Muhendislik Hizmetleri (a leading Turkish construction company with significant experience in marine structures).
The operating rights of the Salipazari Port were obtained by Dogus Holding, which submitted the highest bit of USD 702 million, and which signed the agreement providing for transfer of operating rights on February 14. Despite the transfer of the operating rights to Dogus Holding, the port itself remains the property of Turkiye Denizcilik Isletmeleri, a company established by the Turkish government over 100 years ago to own and operate Salipazari and a number of other ports in the country.
Edwards Wildman provided advice in relation to the tender preparation process, the preparation of the agreement, and its negotiation. The team was led by Partners Tolga Ismen and Arzum Gunalcin.
