Paksoy, working with King & Spalding, has advised Dow on the USD 125 million sale of its 50% stake in DowAksa Advanced Composites Holdings to Aksa Akrilik Kimya Sanayii, a subsidiary of Akkok Holding. Addleshaw Goddard advised Aksa Akrilik.
The transaction remains contingent on regulatory approval.
According to Paksoy, formed in 2012, DowAksa is a Dutch joint venture between Dow and Aksa and owns Turkey’s only carbon fiber manufacturer, supplying advanced carbon fiber composite solutions to sectors such as aerospace and defense.
Aksa Akrilik Kimya Sanayii is a Turkish chemical company.
The Paksoy team included Partners Stephanie Beghe Sonmez and Togan Turan, Senior Associates Pinar Babaoglu and Mete Siber, and Associate Irem Uysal.
The Addleshaw Goddard team included Partner Daniel Cousens and Counsel Christopher Quinn.
