With the Communiqué on Principles Regarding Companies Whose Shares Will Be Traded on the Venture Capital Market [II-16.3] [“Communiqué”] published in the Official Gazette on 18.5.2023, the procedures and principles regarding the sale of non-public joint stock companies to qualified investors for trading in the stock exchange came into effect.

Contributed by Guleryuz & Partners.

Cansu Telli has joined SST Technology as Legal Counsel in Turkey.

The Aksan Law Firm has advised Simya VC on its investment in Werover, in a USD 400,000 round that also included angel investors Semiramis Kulak and Arman Koklu.

Former Counsel Dogukan Berk Aksoy and former Senior Lawyer Ece Alkan have both been promoted to Partner with Yetkin Attorneys at Law in Ankara.

Sadik & Sadik has changed its name to Sadik & Capan with the addition of Nazli Tonuk Capan as Co-Managing Partner. 

The Aksan Law Firm has advised portfolio manager Maxis and venture capital fund Founder One on their investment in Istanbul-based online education company Argedu.

On May 21, 2023, Allen & Overy and Shearman & Sterling announced they are merging into a fully integrated firm: Allen Overy Shearman Sterling – A&O Shearman for short.

Paksoy has advised the EBRD on its USD 110 million loan to Enerjisa Uretim.

Contributed by Kolcuoglu Demirkan Kocakli.

Schoenherr, working with Luther and Hogan Lovells, has advised the Cargo-Partner Group Holding on its EUR 1.4 billion sale of Cargo-Partner GmbH and 60 other subsidiaries to Nippon Express Holdings. Freshfields Bruckhaus Deringer advised the buyer.

The Aksan Law Firm has advised APY Ventures on its investment in Turkish autonomous robot developer Saha Robotik.

Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised APY Ventures' Bilisim Vadisi Venture Capital Fund and Ostim Venture Capital Fund on their investment in Buyutech.

Former Guner Law Office Partner Omer Erdogan has joined Kinstellar Turkish affiliate Gen & Temizer Ozer as a Partner in Istanbul.

Due diligence review, which is frequent in acquisition transactions, basically refers to an examination of the target company prior to the buyer's acquisition. This term originates from Anglo-American legal system, and Swiss-Turkish doctrine has yet to generate a new term and thus uses the term “due diligence” in their legal terminology.

Baker McKenzie Turkish affiliate Esin Attorney Partnership has advised Groupama Assurances Mutuelles on the sale of Groupama Investment Bosphorus Holding to AXA Mediterranean Holding. Gide Turkish affiliate Ozdirekcan Dundar Senocak advised the buyer.

As the country quickly approaches the end of another election cycle, there appears to be an increase in litigation proceedings in Turkey – at least when it comes to the M&A and construction sectors – according to Esin Attorney Partnership Partner Demet Kasarcioglu.

Takeda has appointed former Dubai-based Head of Ethics & Compliance, ICMEA Gonca Sonmez Uyguc to Senior Director in Istanbul.