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Guleryuz Partners and Allen & Overy Advise on Tiryaki Agro USD 112.5 Million Financing from IFC, FMO, and Proparco

Guleryuz Partners and Allen & Overy Advise on Tiryaki Agro USD 112.5 Million Financing from IFC, FMO, and Proparco

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Guleryuz Partners, working with the Galadari Law and Eversheds Sutherland, has advised the Tiryaki Group on its USD 112.5 million financing package from the IFC, FMO, and Proparco to finance an agro-industrial complex in Iraq’s Umm-Qasr Port. Allen & Overy, working with Confluent Law, advised the lenders.

The agreed package includes loans up to: USD 66 million from the IFC; USD 31.5 million from the Dutch Entrepreneurial Development Bank; and USD 15 million from Agence Francaise de Developpement Group subsidiary Proparco.

According to Guleryuz Partners, Tiryaki Agro is one of the leading agricultural exporters in Turkiye and the MENA region.

According to Proparco, the project includes a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country’s economy away from fossil fuels.

"We are building a soy crushing plant and corn warehouses in Tiryaki Group’s exclusive berth in the Umm-Qasr port of Iraq," Tiryaki Agro CEO Suleyman Tiryakioglu commented. "The warehouses, which are part of the investment, have been completed and the soy crushing operations will begin in early 2024. With a daily crushing capacity of 3,000 tons, the soy crushing plant is expected to generate more than 700 million dollars of revenue annually, half of which will be generated through exports."

The Guleryuz Partners team was led by Partner Zahide Altunbas Sancak and Senior Associate Yasemin Keskin.

Eversheds Sutherland at a Glance

Eversheds Sutherland with offices in Bratislava and Prague and as part of an international network, provides comprehensive legal advice also in foreign jurisdictions.

Our team consists of a total of more than 40 lawyers in the Czech Republic and Slovakia, most of whom have previously worked at major international and local law firms and have extensive experience in particular in the areas of corporate law, including mergers and acquisitions, capital markets, real estate, employment law, competition law, litigation and arbitration, energy, infrastructure, as well as environmental and ESG law.

Our advisory services are offered in Slovak, German, Czech and English language. Members of our team include attorneys registered with the Austrian Bar Association. On this basis, and because we are part of Eversheds Sutherland, we are also able to offer extensive legal support on various foreign legal issues.

We listen to our clients, we understand their business and we also understand what they need. So we can always find the best solution for the particular situation. We work quickly, efficiently and take responsibility for our work.

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