Turkey

IFLR1000 Reviews

Overview

Solicitors governing body: Türkiye Barolar Birliği

Competition authority: Rekabet Kurumu

Financial regulator: Bankacılık Düzenleme ve Denetleme KurumuSermaye Piyasası Kurulu

IFLR1000 ranking categories for this jurisdiction:

Financial and corporate (published October) – Banking, Capital markets, Competition, M&A, Project finance

Energy and infrastructure (published June) – Energy, Infrastructure

Jurisdiction overview

Economically, Turkey is expanding and growing, with inward foreign direct investment playing an important part in virtually every industry and practice area. Most notably, large-scale projects in energy and infrastructure are abundant throughout the jurisdiction. As one of the MINT countries (Mexico, Indonesia, Nigeria, and Turkey) it is seen as one of the up-and-coming economies of the developing world. 

Situated at the meeting point between Asia and Europe, the country is seen as important regionally and internationally. As perhaps the only secular democracy in the region it is an important local ally for Europe and America, but also maintains a position as a leader among the Middle East nations. Persistent conflicts on its eastern borders and ongoing tensions with the minority ethnic Kurdish population, however, remain significant challenges that need to be overcome.

The legal system is based on the 1982 constitution and the country is a civil law jurisdiction. It is a sophisticated legal market that is largely in line with those of continental Europe, having incorporated elements from a number of different nations in its creation.

In order qualify as an avukat an individual must be a Turkish citizen and have qualified in Turkey. Qualified lawyers must then register with one of the 78 bar associations and with the Türkiye Barolar Birliği. They are also required to work in an office established in the jurisdictional area of their bar association. Qualified attorneys are allowed to practice anywhere in the country, but only on a temporary basis. 

Firms are not permitted to have more than one office and foreign partnerships are not permitted to open a branch in Turkey. In practice, this means that domestic firms will often form associations or alliances with international firms and operate on a de facto basis as the Turkish office of that firm. Many also have non-Turkish lawyers on the ground in Istanbul as well who, while technically not able to work on any aspects of Turkish law, work in close contact with their domestic colleagues on multi-jurisdictional matters.

Thanks to the peculiarities of the regulations, the Turkish legal market is a hotchpotch of different firms, ranging from expansive, large-scale, Western-style partnerships to small family-run firms with only two or three partners. And, due to the sheer volume of work available, it is as likely to see one working on a major deal as another.

There are a number of different types of firm that lead the market. Both large domestic and international firms are some of the strongest names around. However, alongside them there are also the traditional family-run organisations, and now also a new wave of smaller operators made up of partners who were formerly senior associates at the traditional firms. Some of these have already joined together with an international partner, while others remain independent. All of the above can be found working on major deals, such is the nature of the Turkish market.

Jon Moore - Journalist - EMEA

Financial and corporate
Aydaş Liman Kurman

Aydaş Liman Kurman is an independent Turkish firm specialised in corporate law. 

During the research period the firm advised an acquirer on a deal in the telecommunications sector.

Recent Deal Data highlights 

•ZTE Corporation $105 million acquisition of 48.04% of Netas Telekomunikasyon

 

Client feedback

"The firm has a competent and hardworking team with deep legal knowledge and it is business oriented. They are great value for money." - M&A

"The firm is very responsive, timely, and competent." - M&A

"The firm has a good understanding of local legal risks, good communication with counterparts and their legal teams, and good knowledge of similar legal processes." - Project finance

Altan Liman

"Altan was very helpful and constructive at all times. He has a very good knowledge of the local legal environment."

"He was helpful and efficient in all aspects of our engagement. He was quick to respond and met all deadlines."

Umut Kurman

"He is a dedicated and competent lawyer with good communication skills and deep legal knowledge."

Bozoğlu İzgi Attorney Partnership

Firat Izgi is known for its M&A and project development work with a particular focus in the energy sector.

The M&A team worked for an acquirer on a deal in the energy sector.

In project development the firm acted as counsel to a project company on an energy project. 

Some of the firm’s key clients are GNCR Group, Enerjisa Group and Alternatif Energy Investment Company.

Client feedback

"The firm is disciplined and provides a fast return." - Financial services regulatory

"Strengths: the firm has a powerful team and is business wise. Weaknesses: it is time consuming and very detailed on the work provided." - Financial services regulatory

"The firm is highly skilled and it has experienced associates. It has a high service, availability, accessible contacts and trustworthy business partners." - Investment funds

"The firm is dedicated, result oriented and has a very careful team.  They can keep the balance on securing the most complex structure on agreements or legal documents without disturbing the deal." - M&A

"The firm has a strong team with a good attitude." - M&A

"Strengths: the firm is 100% dedicated and responsible. Weaknesses: too much work for its limited resources." - M&A

"The focus and determination of the firm was exceptional. We were able to settle with the debtor thanks to Firat Izgi's hard work, creativeness, ability to negotiate and good judgements. An area to improve maybe dwelling less on the details." - M&A

"They are experts on their field. They are a well-known firm in Turkey. And they provide their services on time." - M&A

"Their main strengths are their knowledge, experience and discipline. I truly believe on their interpretations and their consultancy. As a client and as a former associate I can assure you that they are aiming for perfection. We consult them mostly for sector specific topics. The team's business knowledge and understanding is very high and they can be a part of the company and have business aspects while solving legal issues. The business knowledge of the partners is very strong and this really differentiates the team and its work. As a lawyer I know other law firms in the sector, I can say Firat Izgi is a high ranking firm who offers an exclusive service. Both partners take place in every work. Their name is recognised in every area and they work internationally. I am really pleased with their work." - M&A and project development

"They provide full satisfactory legal service which is really expert and professional. They are reachable all the time, prompt and helpful." - M&A and project development

"The firm is very profesional, solution oriented and has innovative recommendations." - Project development

"The firm has a responsive team, a strong knowledge in its field, and it is well structured." - Project development

"The experts at the law firm have diligently supported us with their past contracting experience and helped us reach a satisfactory contract structure." - Project development

"The firm is heavily engaged in the energy sector, which is one of the key areas of our institutional services. It is also very knowledgeable about the sector not just in legislative matters but also in practical terms." - Project development

"The firm is professional and an expert in local energy laws." - Project development

"The firm is elaborative, focused and very helpful." - Project development

"Their strength is that they know the industry very well. They have an up to date knowledge and the team is fluent in English. They deliver the results at the time they promise." - Project development

"We are very much satisfied with the job done. The firm is very proactive answering and is extremely professional. No weakness has been experienced." - Project finance

Deniz Ozder and Elvan Sevi Firat

"Deniz Ozder is responsive and aware of the sectoral updates. She has a good collaboration with partner Sevi Firat. Sevi Firat who is a real expert in the pharma sector is our main contact. She is reachable and truly helpful. She is very self-confident and very open to involve to every kind of project."

"They are experts, professionals, problem solvers, and have good crisis management."

Elvan Sevi Fırat

"She is very professional."

Mehmet Feridun İzgi

"As the managing partner, he has always been open and honest with our company. He has never offered any option to us that may not be of our best interest even if it could give them huge legal profits. He is always available and attentive. The only area to improve may be following more the deadlines. I never had any significant problem with it though."

"Feridun is a lawyer with very strong legal knowledge as well as energy sector and country knowledge. He has years of sectoral experience and is able to reflect this on his advisory.  He is easily accessible and open to communication at all times, while he and his team responds quickly with necessary hard work and alternative solutions."

"He has a good knowledge of the energy sector."

"He is highly flexible and has a proactive approach. He has great legal knowledge and assessment skills."

"He is very responsive and he has a strong knowledge in his field of work."

Necdet Can Artüz

"He is knowledgeable, very experienced, helpful, calm, meets deadlines and has good communication skills."

CIFTCI Law firm

Yegin Ciftci is a leading firm in Turkey with a particular strength in the banking area. The firm works in cooperation with international firm Clifford Chance.

The banking team works for both lenders and borrowers on corporate financing, syndicated loans, leveraged financing, acquisition financing, refinancing and project financing matters.

In the M&A space, the firm acted as counsel on both the buyers and sellers sides recently. The firm advised on deals in the energy, financial services, food, pharmaceutical and retail sectors.

In project development the firm is active representing sponsors on the construction and development of power and infrastructure projects.

Recent Deal Data highlights

•Akfen Renewables $102 million financing

•Ankara-Nigde Motorway PPP

•CVC €3 billion acquisition of Recordati

•Doğuş Real Estate Investment Fund €100 million financing

•Emirates NDB $3 billion acquisition of shares in DenizBank 

•Menzelet and Kılavuzlu $375 million privatisation

•Zorlu $140 million financing

 

Client feedback

"The firm has good knowledge of local requirements. However, it also has a very business risk based approach." - Banking

"The firm has designed the debt assumption agreement, the EPC Contract, the direct agreement to the EPC Contract and the O&M Agreement as well as its direct agreement. All the facility agreements and all other related agreements for project finance and derivatives. The team was ethical, hardworking, with a multi task organisation, and with high experts not only for Turkish Law but also for Swiss and UK legislation. The firm was competent and a solution provider. It also has a good negotiation attitude and skills. The firm is also convincing and it always has a good view. The team always explains impartially to each stakeholder the consequences of the outcome.” – Project finance

Itir Ciftci

"She has good sector knowledge and is able to make prudent decisions."

Mete Yegin

"He has a mass knowledge of the industry, very good communication skills, is very convincing, ethical and sincere. He has a very deep legal knowledge, is highly experienced and respectful."

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is well known for its competition practice, but it is also active on banking and finance, capital markets and M&A matters.

In banking, the firm advised borrowers on loans deals. In capital markets, a clear highlight was work for an issuer on an IPO.

The competition team was busy working on investigations, exemption applications and merger control fillings in the retail, petrochemicals, pharmaceuticals, agriculture, automotive, insurance and real estate sectors.

In M&A, the firm represented joint venture partners on deals in the automotive sector, and worked for acquirers on deals in the transport, manufacturing and consumer goods industries. 

Recent Deal Data highlights 

•Kale/ Rolls-Royce joint venture

•Trend GYO Borsa İstanbul IPO 

Client feedback

"The firm is responsive, has an extensive experience and is the best in class in competition and antitrust." - Competition

"The services rendered were satisfactory. The lawyers in the legal team were well educated and experienced in competition practices. They guided us properly and as expected." - Financial services regulatory

"The firm is excellent, diligent, responsive and pragmatic." - M&A

"The firm is good at making creative solutions, gives quick feedback, has an efficient time management, completes its work on time, and has accessible consultants." - M&A

"The firm provided support every hour of the day with an easy-to-reach consultant." - M&A

"ELIG is a trustworthy firm, deeply knowledgeable in the fields it operates. They are very responsive and have a good understanding of a corporate client's needs.  Their services are high premium with relevant cost associated to the same." - Project development

"The firm's work was delivered promptly and presented clearly. Overall, ELIG produces strong work product." - Project development

"Strengths: the firm is very experienced, solution oriented, always accessible and very much deadline oriented. Weakness: nothing significant."

"We are satisfied about our experience with the firm."

Burcu Can and Gonenc Gurkaynak

"They are both strong in communication and are good listeners. They have a very good technical know-how."

"They are both very good."

Eda Duru

"We are satisfied about her accessibility, her capability of meeting deadlines, and her legal knowledge."

Gonenc Gurkaynak

"He is excellent."

"He is an excellent lawyer."

"When working with him, you know you are at good hands and you know when you need counsel he will be there to assist."

Nazli Yukaruc

"She has an efficient time management, completes work on time and is an accessible consultant."

"She is excellent, clear, responsive and pragmatic."

"She works fast and delivers jobs on time. She could be more dynamic during communication."

Erdem & Erdem

Erdem & Erdem’s biggest strength is project development. The firm is also active in banking, M&A, capital markets, competition and project finance. 

In recent banking work the firm advised lenders and borrowers on refinancing, acquisition finance and loans deals. 

In capital markets work the firm assisted corporate issuers, private equity funds and financial institutions on equity, derivatives and securitisation deals.  

The competition team worked on aspects of corporate transactions but also on investigations in the logistics, energy, automotive, tourism, consumer goods and retail sectors.

In M&A the firm represented acquirers, sellers and joint venture partners on deals in the energy, automotive, construction, sports, infrastructure and manufacturing industries. 

In project development work the firm acted as counsel to project companies and contractors on the construction and operation of energy projects. 

Recent Deal Data highlights 

•Ojer Telekomünikasyon $4.75 billion financing restructuring 

 

Client feedback

"The law firm provides a reliable and quality service. It responds quickly and effectively about complex legal issues. The services provided by the law firm meets our expectations." - Banking

"The law firm provides reliable and quality services and responds quickly and effectively about complex legal issues. The services provided by law firm meets our expectations." - Capital markets: Equity

"The firm has an on hands approach." - M&A

Mert Karaosmanoglu

"He is very good."

Nezihe Boran Demir

"Demir is quickly and easily reachable. She has an understanding of our needs."

Özgür Kocabaşoğlu

"He is quickly and easily reachable. He has an understanding of our needs."

Hergüner Bilgen Özeke

Hergüner Bilgen Özeke is a local firm regarded as having one of the strongest practices across the banking and projects areas in Turkey. 

The banking team continues to serve both lenders and borrowers on corporate finance, acquisition finance, project finance, and Islamic finance deals.

In capital markets work the firm advised an issuer on a capital increase deal during the research period.

In M&A the team worked on deals in the cement, consumer goods, automotive, energy, technology, health and insurance sectors. The firm acted as counsel to both acquirers and sellers.

The competition team was active working on investigations and merger clearances.

In project development work the firm represented sponsors and project companies on the construction and development of infrastructure, energy and oil and gas projects.

Recent Deal Data highlights

•Alibaba $728 million acquisition of Trendyol

•Eurasia Tunnel $1.2 billion financing

•Gebze-Izmir Motorway $2 billion financing

•İzmir Healthcare Campus €363 million financing

•Kocaeli Healthcare Campus €300 million financing

•Olmuksan $8.6 million capital increase

•Taiwan $1.6 billion 40% acquisition of stake in OYAK

•TÜMAD Madencilik Sanayi ve Ticaret $200 million financing

 

Client feedback

"Strengths: the firm has high integrity and ethics. It provides a quick response and has good communication skills, and an expert knowledge on M&A. Weaknesses: occasionally, more aggressiveness could change the deal dynamic." - M&A 

"The firm has good knowledge of the country. Sometimes its explanations of issues are overly complex. The suggested solutions are not always provided." - M&A

"The firm is responsive and provides a high quality legal support in difficult and complex issues. It has a nice and friendly atmosphere." - M&A

"Herguner has assisted us in several crucial points of our project since the licenses application, to agreements negotiation, as well as in corporate aspects. Overall, they have assisted us in discussions with regulatory boards. They have been our connection with the regulator and our eyes, ears, and hands during the entire project." - Project development

"The firm is experienced, has a high class and in punctual." - Project finance

Kayra Ucer

"He is a highly experienced lawyer, which always provides high level legal advice. He is responsive and friendly."

Mert Mustafa Ogulzulgen

"He is good; however does not always provide solutions to problems."

Sevil Altınöz

"She is very professional, punctual, experienced and problem solving."

Inal Law Office

Inal Law Office’s biggest strengths are its banking and M&A practices.

In banking recently the firm worked for borrowers and lenders on syndicated financing, Islamic finance, refinancing and ship financing deals.

The M&A team was active on deals in the transport and shipping sectors. The firm advised acquirers, sellers and joint venture partners.

Client feedback

"The firm has a very good grasp of practical issues for operating such a facility in Turkey, including contractual and licensing framework.  They are approachable and responsive." - M&A

"The firm is thorough, has knowledge of Turkish law, regarding the matters on which we have worked, and has the ability to provide advice on those matters quickly." - M&A

Seyma Inal      

"She is an excellent leader of her firm and a good correspondent on all matters relating to this engagement and to work in Turkey in general."

"She is thorough and has knowledge of Turkish law regarding the matters on which we have worked, that is, M&A, corporate law, anti-trust, and governance. She is always very responsive and provides quick turn-around on questions asked."

Kilinc Law & Consulting

Kilinc Law & Consulting focuses on project finance work in the energy space.

During the research period the firm advised borrowers on the financing of oil and gas and power projects. 

Recent Deal Data highlights 

•Trans Anatolian natural gas pipeline

Client feedback

"We are extremely happy to work with them." - Project finance

Levent Kılınç

"He is young, energetic, responsive, and has a broad network. We like to work with him and his team."

Paksoy

Paksoy is known as one of the strongest firms in the country across all financial and corporate areas. 

The banking team worked for borrowers and lenders on syndicated loans, project financing, refinancing, corporate financing, Islamic financing and debt restructuring deals.

In the capital markets space the firm’s strength lies in debt work, including advice to arrangers, issuers and lead managers on sukuk issues, notes issues, bond issues and asset backed securities deals. On the equity side the firm advised issuers, underwriters and global coordinators on IPOs.

The competition team remains very active, representing multi-national companies from the financial services, real estate, infrastructure, healthcare and insurance sectors, on merger control filings, competition filings and investigations matters.

In M&A during the research period, the team worked for joint venture partners, sellers and acquirers. Some of the most active sectors were the financial services, technology, oil and gas, retail, consumer goods and energy.

In project development, the firm was mandated counsel to sponsors, contractors and developers on power, infrastructure, oil and gas and mining projects.

Recent Deal Data highlights

•Albaraka $205 million sukuk issue

•Bayraktar $168 million restructuring

•Emirates NDB $3 billion acquisition of shares in DenizBank 

•Lindsay Goldberg €700 million acquisition of Turkish subsidiary of Coveris Rigid

•PayU $165 million acquisition of Iyzico

•Turkcell $500 million 5.8% bond issue

•Turkish Airlines €400 million financing

•Ziraat Bank $1 billion syndicated financing

 

Client feedback

"The firm was quick to provide turnarounds and responsive. It can work under pressure and on a short deadline. The firm provides clear responses and down-to-earth legal analysis." - Capital markets: Derivatives

"They are really quick. They helped us a lot and they were always available when we needed them. Their comments were good and leading in critical cases." - Project finance

"Paksoy's legal team has been very diligent, responsive and industrious. Their stellar performance as the JLM local counsel in our past issuance encouraged us to pick them as our local counsel this time around." - Capital markets: Debt

"They, especially Sera Somay, has a very good knowledge about sukuk transactions. It is easy to reach and communicate with them. You can get feedback whenever you need." - Capital markets: Equity

"We were satisfied with the team's fast and effective contribution to contract review and negotiations. They were reachable and cooperative which made the negotiation process much easier for us." - Project finance

"The firm is very efficient, profound and provides a competent service." - Banking

"The competition team was responsive and pro-active, and a pleasure to work with." - Competition  

Ömer Çollak

"He is responsive and efficient. He provides clear advice and has a good understanding of the business. He is very professional."

"He is an unusually hands-on partner who is involved in the project fully from day one to its completion. He answers the questions before they come up."

Sera Somay

"She has a very good knowledge about sukuk transactions. She is very kind and helpful."

Soner Dağlı

"Soner is highly responsive with excellent communication skills and flexible with tight schedules." 

Pekin & Bayar

Pekin & Bayar is a Turkish firm known for its work in the banking and finance area. 

In recent banking work the firm advised borrowers and lenders. Work included financing, refinancing and Islamic financing deals. 

In the competition space the firm worked on cases in the pharmaceutical and energy sectors.

The M&A team worked for both acquirers and sellers. It was involved in deals in the energy, pharmaceutical and insurance industries. 

Recent Deal Data highlights 

•Beymed Sağlık acquisition of stake in Argis İlaç Sanayi ve Ticaret Anonim Şirketi

•Lifecell $12 million financing

•Lockton Overseas acquisition of 50% of Omni Sigorta ve Reasurances Brokerlik Hizmetleri Anonim Şirketi 

•Mahall Ankara €48 million refinancing

•NIBE Industrier acquisition of 51% of Emin Teknik Hortum ve Makine Anonim Şirketi and DMD Dış Ticaret Makine Sanayi Anonim Şirketi

•Turkcell €750 million refinancing 

•Turkcell €100 million financing

•Unifree Duty Free Anonim Şirketi $125 million refinancing

Client feedback

"The firm has a detail oriented approach and it has an exemplary negotiation knowledge, it is one of a kind." - M&A

"The firm is responsive and provides practical and to the point advice. It is able to handle specialist work properly." - M&A

Selin Bayar

"Selin is a natural born negotiator and has extreme knowledge in her field. Her solution driven approach is appreciated."

Senem Gölge Yalçın

"She is quick and accurate in her response."

Selvi & Ertekin Attorney Partnership

Selvi & Ertekin Attorney Partnership is active in the banking and finance, and M&A areas.

During the research period the firm’s work in the banking area included advice to borrowers and lenders on acquisition finance, refinancing, project finance, loans and debt restructuring deals.

In M&A, the firm worked for acquirers on matters in the energy sector.

Recent Deal Data highlights

•Borusan €20 million financing

•Güriş €33 million financing

•Maspo Geothermal PP $145 million financing

•Mis Geothermal PP $167 million financing

TOCC Attorney Partnership

TOCC Attorney Partnership is active in the banking, M&A and project development areas with a particular strength in project finance work.

During the research period the firm’s work in banking included advice to borrowers and lenders on loans, refinancing, project finance and real estate finance deals.

In M&A, the firm worked mainly for sellers on deals in the construction, mining, food and beverage sectors.

In project development the firm advised contractors, project companies and sponsors on the construction and development of infrastructure and power projects.

Recent Deal Data highlights

•Çeşmeli-Erdemli-Silifke-Taşucu Motorway

 

Client feedback

"TOCC is a very professional and responsive firm." - Project finance 

"They have a young team. But they are very capable of providing reliable consulting to their clients. They keep themselves always up to date. They are fully aware of the work that they are doing. They have a good concentration." - Project finance 

"The firm's action for our requirement was very quick and proper." - Project development

Yazıcı Attorney Partnership

Yazıcı Attorney Partnership’s key practice areas are M&A and project finance and development. The firm specialises in work in the oil and gas, power, construction and infrastructure sectors. 

In recent M&A work the firm advised on both the buyer and seller side of deals. The team worked on deals in the oil and gas, mining and energy sectors.

In project finance the firm worked for lenders on the financing and refinancing of projects in the mining and power space.

The project development team represented contractors and project companies on the construction, development and operation of infrastructure, oil and gas, mining and power projects.

Recent Deal Data highlights 

•Gökırmak Copper $120 million financing

•Trans Anatolian natural gas pipeline

Client feedback

"We were happy with the service provided by the firm, definitely value for money. The staff knew what they were doing and guided us through the whole process." - Financial services regulatory

"The firm is strong, agile and has a pragmatic team." - M&A

"The firm has a wide experience, its team works trustfulness and it has attention to detail." - Project development

"The firm has an extensive experience and trustworthiness." - Project development 

Elif Karagözoğlu

"She is a very experienced legal person. She has strong communication skills and is a successful team leader."

Kerem Aric

"He has a deep law and business knowledge.  He is pragmatic, result oriented and a good business contract negotiator."

Akol Law

Akol Namlı & Partners is recognised in the Turkish market as one of the strongest M&A firms. It is also broadly strong in projects, and capital markets work.

The banking team advises both lenders and borrowers on Islamic financing, refinancing, debt restructurings, real estate financing, project financing and loans deals.

In capital markets the firm worked on the debt side for issuers and underwriters on bonds issues, sukuk issues, notes issues and Eurobonds. On the equity side it acted as counsel to issuers and underwriters on IPOs and rights issues.

In M&A, the firm’s strongest practice, the team continues to advice on both the buyer and seller sides. Over the research period the firm was active on deals in the food, energy, technology, retail, oil and gas, telecommunications and insurance sectors. 

In project development the firm represented sponsors and contractors on the construction and development of infrastructure and energy projects. 

During the research period significant staffing changes included the departure of two banking partners Zeynep Yavuz and Özgün Özok, followed by the recruitment of two partners from Yazici Legal, Güneş Yalçın and Ömer Gökhan Özmen, who join the banking and finance team. Additionally, partner Jonathan Clarke left the M&A team to join DLA Piper in the UK, and M&A partner Tugce Tatari joined the firm from GKC Partners. 

Recent Deal Data highlights

•Arkas Denizcilik ve Nakliyat $38 million murabaha financing 

•Bracknor Fund $25 million acquisition of Oylum 

•Emlak Konut sukuk issue

•Fortive acquisition of Advanced Sterilization Products

•Halk REIT sukuk issue

•Petkim Petrokimya $500 million eurobond issue

•Ronesans Gayrimenkul $300 million eurobond issue 

•Viatrans $200 million refinancing

 

Client feedback

"The firm is highly diligent, responsive, and experienced in multi jurisdiction cases." - Project finance

"The firm is excellent all around." - Capital markets: Equity

"The firm is responsive and comprehensive." - Banking

"Meltem is a gifted lawyer who can adjust to the company's needs. She makes sure her team uphold her standards for the service provided." - M&A

"The firm has a high level of proficiency, service quality, knowledge, market experience, provides very quick response times, and is customer focus." - Capital markets: Structured finance and securitisation

"The firm is competent, and has pragmatic lawyers with a solution oriented approach." - M&A

"The firm is extremely responsive, professional and solution driven." - M&A

"The firm has top notch lawyers." - Capital markets: Equity 

"They are very good in in the concession, EPC, project financing, energy and construction sectors." - Project development 

Bezen & Partners

Bezen & Partners focuses on project finance and development work but is also active in the banking, capital markets and M&A areas.

In banking, the firm acted for borrowers and lenders on refinancing, project financing, corporate financing and loans matters recently. 

The M&A team worked on deals in the healthcare, oil and gas, energy, consumer goods, infrastructure, financial services and mining sectors. The firm advised joint venture partners, acquirers and sellers. 

In capital markets work the firm advised mainly underwriters on bond issues in the debt side and on an IPO in the equity side.

In project development the firm represented sponsors, contractors, developers and project companies on energy, infrastructure and oil and gas projects.

Notable staffing changes include the departure of M&A partner Uğur Sebzeci.

Recent Deal Data highlights

•Akfen Renewable Energy $209 million financing

•Akkuyu Nuclear power plant $22 billion project

•Espark Shopping Centre $65 million refinancing

•İkitelli Integrated Health Campus PPP 

•Izmir Metro Project II $80 million financing

•MigrosTicaret $4.9 million bond issue

•Pronet $203 million refinancing

•Qingdao Haier €475 million acquisition of Candy

 

Client feedback

"Bezen was really hands on on this assignment. They delivered the requested LO in a day, they were pragmatic in their assessment and our company and its shareholders still benefit from this." - Project development 

"The firm was excellent, and very responsive." - Capital markets: Derivatives

"It is a professional firm, knowledgeable of the local market and regulations." - Restructuring and insolvency 

"The firm has technical excellence, commercial understanding, local knowledge and professionalism." - M&A

"The firm is excellent. It is responsive, thorough, hard-working, insightful and always ready to assist." - Capital markets: Structured finance and securitisation 

"The law firm did a great job, very client-driven approach, it provided comprehensive feedback to all requests at very short notice." - Project finance

Boden Law Office

Boden Law Office is recognised for its work in the M&A and project development areas and has a particular strength in the energy sector.

During the research period the firm’s work in the M&A area included advice to acquirers on deals in the energy sector.

In project development work the firm advised contractors and project companies on the construction and development of energy projects.  

Recent staffing changes included the departure of M&A partner Murat Yörükoğlu.

 

Client feedback

"The team is very professional, they are detail oriented, and at the same time practical and result oriented." - M&A

"The firm is reliable, competent, scheduling oriented, works as a team and is always available. It has quite s professional organisation." - M&A

"The firm was fully informed about all relevant aspects of the issues we were dealing with. They not only answered our questions, but also provided us with insight into what measures we could take to prevent undesired consequences." - Project development

Çakmak

Ankara-based firm Çakmak has a strong practice in the project finance and development areas with a focus on the power sector.

In recent banking work the firm advised lenders and borrowers on project financing and loan facilities deals.

The M&A team represented both sellers and acquirers as well as joint venture partners. The firm worked in the energy, mining, aviation and infrastructure industries.

In project development the firm acted as counsel to sponsors and project companies on construction, development and operation of infrastructure, mining, power and oil and gas projects. 

During the research period, the firm merged with Serap Zuvin Law Offices, therefore partner Serap Zuvin joined the M&A team. 

Recent Deal Data highlights

•Adana Integrated Health Campus 

•Ankara-Nigde Motorway PPP

•Egemer 900MW CCGT power plant

•Kınık 700MW thermal power project

•Lapseki & Ivrindi gold mines €210 million financing

•New İstanbul Airport €1.2 billion additional financing

•Rönesans/Sonatrach joint venture 

•Yozgat City Hospital PPP 

 

Client feedback

"We have always been impressed by the high quality legal services that Cakmak provides for us. We have absolute confidence that we are getting the best legal advice possible. In this particular deal, they understood the complex structure very quickly and came up with solutions to overcome the hurdles we faced during the drafting process. We would recommend Cakmak to anyone looking to do business in Turkey." - M&A 

"Perfect." - Financial services regulatory

"The firm has professionalism, punctuality, effective communication, constructive approach and chases the issues until they are resolved. Also has good coordination and alliance with the borrowers' lawyers." -  Project finance 

"We worked with them mainly for the energy projects (solar and mining projects) and we are highly satisfied with their work. We would have no hesitation in hiring them again for similar projects. The main strengths of the firm are: good knowledge of the law, experience in energy projects and high profile lawyers." - Project development 

"They have great experience and advise not only corporations but also in state-owned enterprises for project finance, acquisitions, restructurings and mergers, as well as joint ventures and investments. They also assist us for litigation strategies and cross-border disputes. Mr. Mesut Cakmak and his excellent team are a leading firm. They not only advise consortiums of lenders but also investors for BOT and concession projects. These deals are important politically as well as for the substantial monetary value involved for the government, banks and investors. The team advises on related matters such as related corporate, construction and land issues, investment structures, and energy agreements." - Project finance

"They are very good in in the concession, EPC, project financing, energy and construction sectors." - Project development 

Çiğdemtekin Dora Çakırca Arancı

Çiğdemtekin Dora Çakırca Arancı is recognised for its work in the equity capital markets and M&A areas.

During the research period the firm’s work in the equity capital markets area included advice to underwriters on IPOs in the technology and retail sectors. 

In the M&A space the firm acted as counsel to acquirers on deals in the consumer services, automotive and financial services industries. 

 

Recent Deal Data highlights 

•Çağdaş acquisition of Arvato 

•DeFacto Borsa Istanbul IPO

•Şok Supermarket Borsa Istanbul IPO

Durukan+Partners

Durukan+Partners is active across all financial and corporate areas. 

During the research period the firm’s work in banking included advice to borrowers, guarantors and lenders on refinancing, loans, project finance and acquisition finance deals.

The M&A team acted as counsel to acquirers on deals in the consumer goods and services. It also advised a seller on matters in the financial services space.

In project development work the firm worked for sponsors and project companies on the development of energy and infrastructure projects.

Recent Deal Data highlights 

•Acıbadem Sağlık Yatırımları financing

•Emaar Properties financing

•LyondellBasell acquisition of A Schulman

•Ojer Telekomunikasyon and Oger Telecom Limited refinancing

 

Client feedback

"The firm is very professional and responsive." - Banking

"The firm is highly responsive and provides very good quality, thorough advice. They have a practical and very commercial approach. The firm stands out among the Turkish firms we have worked with in that advice is well researched and explained in a clear and well thought-through way. They are able to explain the local nuances to an international client rather than just repeating legislation.  Although a young firm, the team is well-versed and experienced in high-value M&A deals." - Capital markets: Equity

Ergün

Ergün is recognised for its work in the banking and project finance areas.

During the research period the firm’s work included advice to lenders on project financing, refinancing and loans deals.

Esin Attorney Partnership

Esin Attorney Partnership – part of the Baker McKenzie’s network – is noted as a market leader for banking, capital markets, competition and M&A work.

The banking team recently worked for lenders and borrowers in acquisition finance, syndicate loans, debt restructuring, Islamic finance, revolving credit facilities, project financing and asset financing deals. 

In capital markets work the firm advised on the debt side, working for issuers on bond and notes issues. On the equity side it has been representing issuers and underwriters on IPOs and rights issues.

The firm’s competition practice is one of the strongest in Turkey. The team worked on merger fillings and investigations. 

The M&A team worked in the media, real estate, retail, insurance, cement, consumer goods, technology and infrastructure sectors. The firm advised both sellers and acquirers as well as joint venture partners.

In project development the firm represented sponsors and project companies on the construction, operation and development of infrastructure and power projects.

Recent Deal Data highlights

•Akbank $400 million notes issue

•Boyner $400 million rights issue

•Demirören Group $916 million acquisition of media assets from Doğan Group 

•DFDS €950 million acquisition of Un-RoRo 

•Saudi Telecom $4.75 billion restructuring

•Türkiye Sınai Kalkınma Bankası $220 million syndicated financing 

•Türk Telekom $500 million 6.875% bond issue 

•Zorlu Enerji $250 million financing

 

Client feedback

"The firm provided high level and quality work." - Financial services regulatory

"The firm has smart lawyers with good knowledge of the law and plenty of experience." - M&A

"The firm was prompt and had a timely manner return. It has the exact knowledge with to the point notes. " - M&A

"The firm's strengths are its global network and experience, that it is easy to reach, and provides fast responses." - Banking

"The firm has deep knowledge, has a great connection with banks and other law firms, and is prompt." - Banking

"They deliver timely and pragmatic advice on all aspects of competition law. The team was fully engaged and responsive. Zumrut Esin was personally involved in every step of the way and we received a great deal of senior attention.  She is just a phone call away, which makes me feel comfortable. They are expensive for Turkey, but I think they are worth their price, especially for complex issues." - Financial services regulatory

"The members of the firm are highly experienced in their area of responsibility and they are capable of giving the right directions which are compliant with the applicable laws and regulations." - Capital markets: Equity

Gedik & Eraksoy

Gedik & Eraksoy is a top tier firm in the banking and project finance areas. The firm works in association with international firm Allen & Overy.

In banking, during the research period, the firm advised lenders and borrowers on loans, refinancing, syndicated loans, project financing, bridge financing and debt restructuring deals. Key clients include EBRD, Bank of China, EnerjiSA, Citibank and BNP Paribas.

Recent Deal Data highlights

•Alternatifbank financing

•Boyner $250 million financing

•Derindere $50 million financing

•Doğu Biga Madencilik Sanayi Ticaret $414 million financing

•Gürmat Elektrik Üretim $720 million bridge financing

•Ojer Telekomünikasyon $5.1 billion restructuring

•Trans Adriatic Pipeline project €5.4 billion financing

 

Client feedback

"We were very satisfied with the firm's performance." - Banking 

"Overall we are quite happy with the work provided. The team was very punctual and diligent." - Capital markets: Debt

"The firm is commercially aware and accommodating.  It is very professional and it grasps all the commercial details very fast and responds in a very satisfactory way." - Capital markets : Structured finance and securitisation  

Gen & Temizer | Özer

Gen & Temizer | Özer is active in the banking, M&A and project finance areas. 

During the research period the firm’s banking work included advice to borrowers and lenders on acquisition finance, refinancing, loans and project finance deals. 

The M&A team worked for acquirers on deals in the real estate, manufacturing, food and technology sectors. It also represented sellers on matters in the financial services area.

Recent Deal Data highlights 

•DSL Group acquisition of Nigde Bor Sugar Factory

•Polibak financing

•Propertyfinder acquisition of JRD Real Estate 

 

Client feedback

"They have an excellent reputation in cross border financing transactions. Their key strength is that they are a deal focused team who deliver solutions with hands on partners." - Banking

GKC Partners

GKC Partners, which works in association with White & Case, is best known for its work in the banking, project finance and M&A areas.

In banking work recently the firm has worked for borrowers and lenders in a number of transactions including syndicated loans, acquisition financing, refinancing, project financing, and debt restructuring deals.

In the capital markets area the firm worked on the debt side advising issuers on notes issues and bond issues. On the equity sid, the firm advised issuers and underwriters on IPOs.

The competition team worked mainly on merger filings for the likes of Eaton Corporation, Goldman Sachs, Mayhola and Saudi Aramco.

In M&A the firm was active on deals in the energy, insurance, gaming, oil and gas and infrastructure sectors during research period. The firm advised both on the buyer and seller side.

In project development work the firm advised sponsors in the construction, development and operation of infrastructure and energy projects. 

During the research period M&A partner Ceylan Kara left the firm. 

Recent Deal Data highlights

•Akbank $178 million financing

•Bereket Enerji $4.2 billion debt restructuring

•Bupa $175 million acquisition of Acıbadem Sigorta 

•Ciner Group $1.66 billion refinancing

•EnerjiSA $393 million IPO

•Osmangazi Elektrik Dagitim $320 million financing

•TÜMAD Madencilik Sanayi ve Ticaret $200 million financing

•Yapı Kredi $650 million bond issue

Gokce Attorney Partnership

Gokce Attorney Partnership is active in the banking and M&A areas. 

In banking, the firm recently advised lenders on project finance, loans and acquisition finance deals.

The M&A team worked for acquirers on deals in the financial services area. It also represented sellers on matters in the gaming, infrastructure and financial services sectors.

During the research period the firm recruited partner Melike Akan Yüksel from YazıcıLegal.

Recent Deal Data highlights 

•Enova Enerji Ceyhan Barajı financing 

•FIT Solutions acquisition of Kılavuz Strateji

•Zynga acquisition of Gram Games and Gram Games

Gün + Partners

Gün + Partners is recognised for its work in the competition, M&A and project development areas.

During the research period the firm’s work in competition included working on investigations and merger control fillings in the pharmaceuticals, media, manufacturing and beverages sectors.

The M&A team worked for acquirers on deals in the manufacturing, media, entertainment and health industries. It also advised sellers on matters in the energy sector and joint venture partners in the food, media and entertainment industries.

 

Client feedback

"The firm is prompt, responsive, business friendly and has sectoral knowledge and experience." - M&A

Güner Law Office

Güner Law Office is known for its work in the banking and finance, M&A, and project development areas.

During the research period the firm’s work in banking included advice to borrowers and lenders on loans, project finance and trade finance deals.

Recent Deal Data highlights

•Abidjan Cement Plant €40 million financing

•Öksϋt gold mine $150 million financing

 

Client feedback

"The firm is extremely sound, reliable, has good technical knowledge of the laws, good commercial awareness for the deal and explained the Turkish law position clearly and lucidly to the client." – Banking

Içtem Legal

Içtem Legal is recognised for its work in the banking and M&A areas.

During the research period the firm’s work in the banking area included advice to lenders on loans and Islamic financing deals.

The M&A team worked for acquirers on deals in the health, pharmaceutical and energy sectors. 

Recent Deal Data highlights

•LC Waikiki murabaha €11.5 million financing 

•Straumann acquisition of Zinedent Implant Üretim

 

Client feedback 

"They were very practical and have solutions against problems." - Financial services regulatory

"This law firm is exceptional in its quick response time, quality of work and reasonable legal fees. The courtesies extended by Ictem far surpass many international firms that we use." - M&A

İnal Kama Avukatlık Ortaklığı

İnal Kama Avukatlık Ortaklığı is known for its work in the banking, M&A, project development and project finance areas.

In banking, the firm recently advised mainly lenders on refinancing, loans, Islamic finance and project finance deals.

The M&A team worked for acquirers on deals in the manufacturing and mining sectors.

During the research period the firm recruited corporate partner Olgu Kama from ELIG Gürkaynak Attorneys-at-Law. And corporate partner Haluk Bilgiҫ left the firm.

 

Recent Deal Data highlights

•Kuwait Airport Extension $830 million financing 

•Terracity shopping mall €115 million refinancing

Kolcuoğlu Demirkan Koçaklı

Kolcuoğlu Demirkan Koçaklı is active in the banking, equity capital markets, and projects areas. The firm is particularly well known for its work in M&A.

During the research period the firm’s work in banking included advice to borrowers and lenders on loans and revolving credit facility deals. 

The M&A team worked for acquirers on matters in the insurance, food, automotive, retail and real estate sectors.

In project development, the firm represented project companies on the construction and development of energy projects.

Recent Deal Data highlights

•Mediterra Capital acquisition of Pizza Pizza

•Talanx acquisition of Liberty Insurance

•Tiryaki $21 million financing

 

Client feedback

"The firm provided a lot of useful information and presented it in a format that was accessible and easy to understand. The firm was very detailed as it was first time of doing business in Turkey." - M&A

"We will continue working with this firm as they are very strong, not only in M&A but also in local legal expertise as well." - M&A 

Moroğlu Arseven

Moroğlu Arseven is recognised for its work in the banking, competition and M&A areas.

In banking work the firm recently advised borrowers and lenders on refinancing and loans deals.

In competition the firm worked on compliance programs, merger filings and merger control reviews by the Turkish Competition Authority in the retail, automotive, agriculture, cement and health industries.

The M&A team represented acquirers on deals in the technology, food, cement, real estate and pharmaceutical sectors. It also advised sellers on matters in the food, agriculture and financial services industries.

 

Client feedback

"We are very pleased with the work of Moroglu Arseven. We received an effective and high-level support from the law firm, solving our legal issues in Turkey." - Banking

"Moroglu Arseven provides high quality legal services. The team, whether partners or associates, are swift and accurate in their legal advice and are available at all times to cater for the legal needs of the client. They have also assisted us in the negotiation process and were able to navigate through the different legal obstacles and propose solutions which were acceptable to both my firm's client and its counterparty." - M&A

"We were very pleased with the firm's work. The team at Moroglu Arseven provided us with high quality legal services, they were available at all times to attend our requests, and were swift in responding to our queries and legal requirements. In particular, the team at Moroglu Arseven managed to conduct difficult negotiations with the sellers of the target company under the acquisition and legal proposed solutions which were acceptable to both counterparties and helped in moving the transaction forward." - M&A

"Moroglu Arseven is comprised of lawyers with a comprehensive grasp of the M&A activity focused on energy industry. They are well equipped both from contractual and energy sector dealings perspectives. They handle the deals with a 360 degree approach by providing insight on all possible fronts. They are prompt in their response timing." - Asset finance

"The firm is good and has knowledgeable lawyers." - Financial services regulatory

Narter & Partners

Narter & Partners is a boutique firm specialised in the project development space with a particular focus in the infrastructure and power sectors.

During the research period the firm’s work in the project development area included advice to project companies, sponsors and contractors on the construction and development of infrastructure and power projects.

Recent Deal Data highlights

•Istanbul European side electricity plant reconstruction

•Istanbul third airport

•Mediterranean electricity plant reconstruction

 

Client feedback

"The projects team, especially Cenk Narter, is efficient and effective. I believe their technical capabilities are very good." - Project development

"The firm was working like in house counsel which made the process and contract management very easy for us. The firm is cost effective as well." - Project development

"The firm's strengths are its high knowledge at corporate & employment law and its quick responses." - Project development

"I have been impressed with the firm's excellent cost-to-service ratio. The firm has deep and broad knowledge in project development. The firm has a very strong and high-quality team in real estate development." - Project development

Özbek Attorney Partnership

Özbek Attorney Partnership is known for its M&A work and it is also recognised in the capital markets area.

During the research period the firm’s work in the M&A area included advice to acquirers on matters in the technology, gaming, financial services, oil and gas, consumer services, real estate and infrastructure sectors.  It also worked for sellers on deals in the food, financial services and consumer services industries.

 

Client feedback

"They provide practical, effective and business-friendly advice and solutions during the M&A work. They also work efficiently and meet even the tight deadlines." - M&A

"The firm has expertise in M&A, is good with client communication, and is flexible with pricing methods." - M&A

"They are very experienced with Turkish corporate law and required procedures. M&A transactions are very complicated in Turkey but due to their expertise we completed our transaction quickly." - M&A

Palta Attorneys at Law

Palta Attorneys at Law is active in the M&A area.

During the research period the firm’s work included advice to acquirers on deals in the real estate, tourism and technology sectors.

Recent Deal Data highlights

•FTI acquisition of Yazkır Yapı

•Group UP acquisition of Ofispaneli

Pekin & Pekin

Pekin & Pekin focuses on banking and project finance work.

In the banking space during the research period the firm has worked mostly on the lender side on deals like leveraged finance, acquisition finance, project finance, syndicated loans and Islamic finance. Key clients include regional and international financial institutions.

In capital markets work the firm advised underwriters and arrangers on Eurobonds, convertible bond issues and securitisations. The team also acted on swap transactions.

The competition team has mainly advised on merger clearances applications before the Turkish Competition Board over the research period.

In M&A the team was active advising predominantly acquirers on deals in the mining, healthcare, automotive, energy, pharmaceutical and real estate sectors.

In project development work the firm advised sponsors on power and infrastructure projects.

During the research period, partner Okan Or left the M&A and competition team to join SEOR Law Firm.

 

Client feedback

"The firm is very good, skilled, competent, professional and always reliable and available." - Banking

"Overall the firm's service is good. Both partner and lawyers assisting us are responsive and helpful in explaining local law issues. They are also able to anticipate issues and raise them with practical solutions." - Project finance

"The firm is proactive, responsive and thorough." - Project finance

"Pekin is well rounded in taxation, capital markets, insolvency, and banking.  We trust them with our most significant transactions in the region." - Banking 

Türkoğlu & Çelepçi in cooperation with Schoenherr

Türkoğlu & Çelepçi in cooperation with Schoenherr is recognised for its work in the banking, competition and M&A areas.

During the research period the firm’s work in banking includes advice to lenders on financing deals.

In M&A, the firm worked for acquirers on matters in the real estate, manufacturing, financial services and media sectors. It also represented sellers on deals in the energy and metal industries.

Recent Deal Data highlights

•Yapisan Elektrik Üretim acquisition of OMV Samsun Elektrik Üretim Sanayi ve Ticaret

 

Client feedback

"The firm is sophisticated and has good responsiveness." - M&A 

Turunç

Turunç is well known for its work in the banking and competition areas. The firm is also active in the capital markets and M&A space.

In banking, the firm recently advised borrowers and lenders on acquisition finance and loans deals. 

The M&A team worked mainly for acquirers on matters in the automotive, infrastructure and retail industries.

 

Recent Deal Data highlights

•Egesil Kimya Sanayi ve Ticaret €15 million financing

•International Container Terminal Services $240 million acquisition of EvyapPort

•Taxim Capital acquisition of Suwen

•Valeo €70 million acquisition of FTE

YBK Yalçın Babalıoğlu Kemahlı Law Firm in cooperation with CMS

YBBK Yalçın Babalıoğlu Boso Kemahlı Law Firm in cooperation with CMS is active in the banking and M&A areas.

During the research period the firm’s work in banking included advice to borrowers and lenders on acquisition finance, asset finance, refinancing, loans, and project finance deals.

In M&A, the firm represented acquirers on matters in the insurance, health, food and consumer services sectors. It also worked for sellers on deals in the retail industry.

Recent staffing changes include the recruitment of partner Hülya Kemahlı from KM Law Office and of Çağlar Manavgat who joined the firm’s banking and finance and M&A team.

Recent Deal Data highlights

•Akbank $980 million multi-currency syndicated financing

•Hayat Varlık Yönetim financing

•Howden acquisition of ACP

•Tam Faktoring revolving loan facility

•Voicevale acquisition of Fropie Süt Ürünleri ve Sağlıklı Besinler San. Ve Tic.

 

Client feedback

"The team was very competent from junior associate to the partner level. They had good know-how of the shipping sector, which was helpful when taking collateral over the floating docks and vessels. They carried out a very thorough due diligence work an identified a number of serious legal issues in advance together with constructive solutions." - Asset finance