The all-round heavyweight in the Turkish legal market, HBO once more maintains its top tier rankings this year by continuing to use its large headcount to provide strength in all areas. In M&A, Hergüner are definitely one of the main players" says one competitor, while another adds that "in the markets, Hergüner are among the most active three"....
[more]
The all-round heavyweight in the Turkish legal market, HBO once more maintains its top tier rankings this year by continuing to use its large headcount to provide strength in all areas. In M&A, Hergüner are definitely one of the main players" says one competitor, while another adds that "in the markets, Hergüner are among the most active three". Finance partner Gökhan Eraksoy receives specific praise from peers in project finance.
Clients praise the creativity of the teams they've worked with. "I was impressed. Our transactions always require innovative solutions and they came up with them," says one banking client.
The projects team has been breaking ground this year, advising on a clutch of pioneering deals within the energy sector. A team led by Eraksoy advised the Yeni Elektrik Uretim on the structure, construction, testing and overall commission of an 865 MW Combined Cycle Gas Turbine (CCGT) power plant located in Gebze with a $700 million facility from a group of four banks. The biggest deal for the firm this year undoubtedly came for its M&A team. It advised Mey Icki, an alcoholic drinks company owned by TPG Capital and Actera, on its acquisition by international beverage giant Diageo. The deal represents a large private equity exit from Turkey and, despite some work still continuing, the transaction was signed off in February 2011 for a figure of around $2.1 billion.
The banking and capital markets teams were by no means dormant either, with the banking team under universally respected partner Hakki Gedik completing a very noteworthy deal for a bank syndicate led by Citibank, RBS and Deutsche Bank on the $1.3 billion of financing for OTAS, a subsidiary of Ojer Telecom, which now controls the recently privatised Turk Telekom.
[hide]