Dentons and its Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership have advised Akfen Holding on its acquisition of the approximately 33% outstanding stake in Akfen Yenilenebilir Enerji from the EBRD and the IFC.
Established in 1976, Akfen Holding is a Turkish infrastructure group. Akfen Yenilenebilir Enerji has an installed power portfolio of approximately 700 megawatts.
According to Dentons, “the acquisition gave Akfen Holding a 100% shareholding in its renewable energy subsidiary Akfen Yenilenebilir Enerji, and marked the end of EBRD and IFC’s long-standing equity investment in the company. Following this transaction, Akfen Yenilenebilir Enerji’s shares were offered to the public on the Borsa Istanbul. The IPO reached a volume of TRY 76 billion and was 23 times over-subscribed, making it one of the most successful IPOs in recent years in Turkey.”
The Dentons team included Partner Nadia Cansun.
BASEAK’s team included Partner Dogan Eymirlioglu, Senior Associate Aysegul Sifaver, and Associate Derin Aydin.
The firms did not respond to our inquiry on the matter.