In its decision dated 01.06.2023 and numbered 2022/120 E. 2023/107 K., published in the Official Gazette dated 01.08.2023 and numbered 32266, Turkish Constitutional Court ["Court"] decided to annul the provisions regarding the deferment of the announcement of the verdict ["DAV"] institution regulated in paragraphs 5 to 14 of Article 231 of the Turkish Code of Criminal Procedure ["TCCP"] No. 5271.
Aksan Advises Simya VC on Juphy Investment
The Aksan Law Firm has advised Simya VC on successfully concluding an investment round in Turkish start-up Juphy.
Turkiye: Autorite de la Concurrence’s EDF Case and Potential Implications for the Turkish Electricity Market
The French antitrust authority – Autorite de la Concurrence (Autorite) – has recently finalized a significant investigation against Electricite de France (EDF) and reached a notable decision that is expected to shape business models in electricity markets. Examining the case, here are its potential impacts and replicability on the Turkish electricity market.
Turkey’s Competition Board Sets the Rules for Online Sales Restrictions
Turkey’s Competition Board (the “Board”) rendered two significant decisions last year concerning online sales restrictions that provide a view forward for many undertakings. In its decisions, the Board scrutinised the commitment packages offered by BSH and Arcelik, two of the major small and large household appliances manufacturers in Turkey. The investigations against the companies (the “Investigations”) concerned whether Arcelik and/or BSH violated Article 4 of Law No. 4054 on the Protection of Competition (“Law No. 4054”) by preventing their authorised resellers from selling online and/or interfering with resellers’ resale prices. The Board accepted the commitment packages, which Arcelik and BSH revised after an initial review of the Board, and thus closed the Investigations with respect to the online sales restrictions contemplated by Arcelik and BSH.
Turunc Advises Gelecek Etki Fonu on Mega Fortuna Investment Round
Turunc has advised the Future Impact Fund on its investment in app and game developer and publisher Mega Fortuna, in a USD 2.3 million seed funding round that included APY Ventures. Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki reportedly advised APY Ventures.
Going Green with New Charging Stations
The "green charging stations" have been introduced with the Regulation Amending the Regulation on Charging Services published in the Official Gazette dated 17.08.2023. Pursuant to the amendment, stations that have a Renewable Energy Resource Guarantee Certificate ["YEK-G Certificate"], an electronic document that providing evidence that all of the electricity supplied to the consumer per 1 MWh of electricity generated is generated from renewable energy sources, will now be defined as green charging stations.
Clifford Chance and Ciftci Advise on Financing of Sakarya Offshore Gas Field Development Project
Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised Citibank on arranging two facilities totaling approximately USD 611 million – covered by international export credit agencies – to Turkiye Petrolleri in relation to Phase 1 of the Sakarya Offshore Gas Field Development Project.
Aksan Advises APY Ventures on MaviKanatlar Investment
The Aksan law firm has advised APY Ventures on its investment in the Ankara-based MaviKanatlar drone technology and software company in the course of an investment round.
GKC Partners and Esin Advise on TotalEnergies Renewables Acquisition of 50% Stake in Ronesans Enerji
White & Case Turkish affiliate GKC Partners has advised TotalEnergies Renewables on its acquisition of a 50% stake in hydroelectric power company Ronesans Enerji. Baker McKenzie Turkish affiliate Esin Attorney Partnership advised Ronesans Holding's Ronesans Yenilenebilir Enerji on the sale.
Bozkurt Bozkurt Opens Office in Washington, DC
Bozkurt Bozkurt opened an office in Washington, DC, on August 15, 2023. The new office will be headed by Partner Gokhan Bozkurt.
Turunc Advises Bogazici Ventures on Investment in Hungri Games
Turunc has advised Bogazici Ventures on its investment in Hungri Games. Ataergin Tanriverdi reportedly advised Hungri Games.
Paksoy Advises Erciyas Celik Boru on TRY 300 Million Inaugural Sukuk Issuance
Paksoy has advised high-pressure steel pipe manufacturer Erciyas Celik Boru on its TRY 300 million inaugural issuance of Islamic bond certificates.
Nigar Gokmen Makes Partner at Esin Attorney Partnership
Former Senior Associate Nigar Gokmen has been promoted to a Partner position with the Esin Attorney Partnership, the Turkish affiliate of Baker McKenzie. Gokmen has also become the firm’s new Head of Energy, Mining & Infrastructure, and Real Estate practices.
Two-Minute Recap of Recent Developments in Turkish Personal Data Protection Law – July 2023
In July 2023, the Turkish Personal Data Protection Authority (the “DPA”) issued a decision, a bulletin and published nine data breach notifications.
BASEAK Advises Koc Medical on Acquisition of Bicakcilar
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Koc Medical on its acquisition of Bicakcilar Global Tibbi Urunler and its fully owned subsidiary Bicakcilar Tibbi Cihazlar.
Turunc and Caliskan Okkan Toker Advise on Arya's Investment in Vispera
Turunc has advised the Arya Women Investment Platform on its investment in Vispera. Caliskan Okkan Toker advised Vispera.
Paksoy Advises IFC, AIIB, and DFC on Akbank’s USD 300 Million Subordinated Debt Placement
Paksoy has advised investors IFC and the Asian Infrastructure Investment Bank on Akbank’s USD 150 million issuance of sustainable tier-2 notes and the DFC on Akbank's USD 150 million issuance of gender tier-2 bonds. Allen & Overy reportedly advised Akbank.
Turunc Advises BV Dijital on Cooperation Agreement with Waves Tech
Turunc has advised BV Dijital on its cooperation agreement with Waves Tech including the formation of a new entity focused on blockchain technologies.