Paksoy has advised the Orion Innovation Group on its acquisition of NetRD from Netas. Bumin & Varlik reportedly advised the seller.

Turunc has advised Wellbees on its angel funding round.

BTS & Partners has advised Midas, a Turkish commission-free trading platform, on its receipt of an unspecified investment from Deniz Ventures, backed by Deniz Bank.

Paksoy, working with Eversheds Sutherland as global counsel, has advised Siniora Food Industries Company PLC, a Jordan-originating multinational food company, on its acquisition of a 77% stake of Polonez - Trakya Et ve Sut Urunleri San. ve Tic. A.S., a Turkish processed meat products company. Caliskan Okkan Toker advised the selling Akkas Family members.

Kinstellar has advised Turkish technology start-up Dream Games on its generation of a USD 50 million Series A Round investment from Index Ventures as the lead investor, as well as Balderton Capital and Makers Fund.

Paksoy has advised the Ageas insurance company on its acquisition of a 40% stake in Turkey's AvivaSA life insurance company, from British insurance group Aviva, for approximately GBP 122 million. The transaction, which is expected to close this year, remains subject to regulatory approval.

New technologies are all the rage, as law firms adapt to the telecommuting and digitalization realities that accompanied the Covid-19 pandemic. Accordingly, we decided to ask our Law Firm Marketing experts from across the region a simple question: “What is the single most important/valuable piece of software you use?” As always, we asked respondents to focus on the question at hand, rather than – as we put it – using the question simply as an excuse to “tell us that their firms are awesome.” Not everyone was able to resist.

Turunc has advised Bogazici Ventures on its USD 500,000 investment in Barakatech.

The Turkish Data Protection Board (“Board”) has recently published summaries of several important decisions on certain matters, which may constitute precedents for future cases. All of the decisions below are published on the Data Protection Authority’s website on February 12, 2021.

Allocation of liabilities between the parties in merger and acquisition (“M&A”) transactions is of utmost significance, in order to ensure that the buyer will be sufficiently protected, and the seller’s liabilities limited as much as possible. Under Turkish laws, the sellers` liabilities are subject to the provisions of the Turkish Code of Obligations No. 6908 (“TCO”). Having said this, Turkish laws are not designed to save commercial parties from a bad bargain, thus the parties often resort to adding certain clauses to their share purchase agreements (“SPA”) such as representations and warranties, indemnities, amount-based restrictions such as de minimis and baskets clauses, setting forth specific procedures and time limits for claims, and so on. Accordingly, this article aims to provide a general understanding as to the sellers’ liabilities in M&A transactions, the general liability provisions most commonly used in SPAs, and how they are dealt with under the Turkish laws.

Sait Eryilmaz, Head of Banking & Finance at Clifford Chance Turkey, has made Partner.

The Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Yildiz Holding A.S. and Gozde Girisim Sermayesi Yatirim Ortakligi A.S. on the sale of their 100% stake in Kumas Manyezit Sanayi A.S., a producer and seller of customized refractory products, to Eregli Demir ve Celik Fabrikalari T.A.S. The Esin Attorney Partnership advised the buyers on the deal.

Kinstellar has advised Hungarian medical device manufacturer Medicor on its EUR 2 million investment in the construction of an incubator-production facility in Ankara, Turkey.

Former Esin Attorney Partnership Attorney Asli Tezcan has rejoined Acar & Ergonen.

Credit Europe Bank has made Turkish lawyer Omer Sirin its Head of Legal.

Bengi Su Karakoylu has joined Temsa as the company’s Head of Legal.

BTS & Partners has advised Twozero Ventures on its USD 1 million investment in Pubinno. Kavlak advised Pubinno on the deal.

YUU Legal has advised the shareholders of Birlesik Odeme Hizmetleri ve Elektronik Para A.S., including the founding shareholders and Finberg Arastirma Gelistirme Danismanlik Yatirim Hizmetleri Anonim Sirketi, a subsidiary of Fiba Holding, on the sale of a majority stake in Birlesik Odeme to Oyak Portfoy Yonetimi A.S. Ucuncu GiriSim Sermayesi Yatirim Fonu, which was advised by KP Legal.