Lexist, working with King & Spalding, has advised the Aydin Group on the sale of a 20% shareholding in the TOM financial group of companies – including a digital participation bank, licensed e-money and payment services company, and a licensed financing company – to the Dubai Islamic Bank. Norton Rose's Dubai office and its Turkish affiliate Pekin Bayar Mizrahi reportedly advised the DIB.
The Dubai Islamic Bank is the largest participation bank by asset size in the United Arab Emirates, according to its own website.
According to Lexist, “in Turkiye, a participation bank shares features of an Islamic bank making it an attractive prospect for the DIB. The DIB described its equity investment in TOM as a “landmark regional transaction.”
The Lexist team included Partner Murat Erbilen, Senior Associate Duygu Ozturk Dincer, Associate Meysa Yamakoglu, and Trainee Ulas Candan.
