The Turkish electricity market has been under a liberalization process since 2001. Specific steps had been taken during the 1980s, 1990s, and 2000s but the main amendment to the legal framework for the creation of a competitive electricity market was the enactment of the Electricity Market Act No. 4628, which was brought into force in 2001. As a result, the integrated structure of the electricity market was to be unbundled, following the privatization of distribution activity in accordance with a specific timetable.
Clifford Chance, Ergun, and GKC Partners Advise on Kutahya Integrated Health Campus PPP Project Financing
Clifford Chance has advised the lenders on the EUR 155 million financing of the Kutahya Integrated Health Campus project design, construction, operation, and maintenance under the public-private partnership model. Ergun Law Firm and White & Case's Turkish affiliate GKC Partners advised the sponsor Guris Construction and Engineering.
Cakmak Advises on Re-Pie’s Subscription of Shares in Procenne
Cakmak Attorney Partnership has advised Re-Pie Asset Management Company on its subscription of shares in Procenne.
Turkiye’s New Electronic Commerce Amendments: Compliance Steps to Follow
The Law No. 7416 on Amendment of the Law on Regulation of Electronic Commerce (“Amendment Law”), published in the Official Gazette of July 7, 2022[, introduces new obligations for e-commerce intermediary service providers and e-commerce service providers. Most of the provisions of the Amendment Law will enter into force on January 1, 2023 but the Amendment Law also stipulates different effective dates and transition periods for certain obligations. Amendment Law’s liability regime is tiered in line with the criteria of net transaction volumes and order numbers in a calendar year. E-commerce intermediary service providers and e-commerce service providers under this regime should follow certain compliance steps in due time.
PAE, Abcoo, and GEMS Legal Schindhelm Advise on Egeli Egesan Group’s Sale to Tyrolit
The Pelister Atayilmaz Enkur law office and Abcoo have advised the Egeli Egesan Group and its shareholders on the sale of a 75% stake in the group to Tyrolit. GEMS Legal Schindhelm advised the buyer.
Turunc and Gen Temizer Ozer Advise on Enhencer Investment Round
Turunc has advised Bogazici Ventures on participating in a USD 700,000 investment round into Enhencer. Kinstellar Turkish affiliate Gen Temizer Ozer advised Diffusion Capital Partners on leading the round.
Norton Rose Fulbright, Pekin Bayar Mizrahi, and GKC Partners Advise on IHC’s Acquisition of Kalyon Enerji
Norton Rose Fulbright and its Turkish affiliate Pekin Bayar Mizrahi have advised the International Holding Company on its AED 1.8 billion acquisition of a 50% stake in Kalyon Enerji, via IHC subsidiary International Energy Holding. White & Case's Turkish affiliate GKC Partners advised Kalyon.
Accountability or Not, the Ultimate Question for AI
Today, the futuristic enthusiasm which was created in minds with the term "artificial intelligence" is accompanied by some anxiety for uncertainty. The term "artificial intelligence", about which a wide variety of definitions have already been made, means systems or machines that imitate human intelligence to perform tasks and can gradually improve itself with the information it collects. Autonomous delivery robots that can bring our orders to our home, a chess robot that breaks its opponent's finger in an uncompromising way because of a faulty move, robot surgeons which successfully perform abdominal surgery without any help and many other AI algorithms that can write poetry, produce visual works, and write articles for newspapers…
Erdem & Erdem Advises Acibadem Healthcare Group on Acquisition of Private Orthopedia Hospital
Erdem & Erdem has advised the Acibadem Healthcare Group on its acquisition of the Private Orthopedia Hospital in Adana.
New Decision from BRSA: Turkish Lira Credit Restrictions Have Been Softened
With the Banking Regulatory and Supervisory Authority’s [the “BRSA”] decision numbered 10250 and dated 24 June 2022 [the “Restriction Decision”], TRL borrowing by Companies [“Companies”], other than banks and financial institutions, which are subject to independent audit has become subject to a foreign currency asset [“FX-Asset”] restriction was introduced.
Kinstellar, Gen Temizer Ozer, and Skils Advise on Torunlar Group's Acquisition of 50% Stake in Akcez
Kinstellar and its Turkish affiliate Gen Temizer Ozer have advised Baskent Dogalgaz Dagitim and Torunlar Enerji on their acquisition of CEZ Group's 50% stake in Akcez Enerji. Skils and, reportedly, Norton Rose Fulbright Turkish affiliate Pekin Bayar Mizrahi advised the CEZ Group on the sale.
Turkish Competition Authority Awaiting Official Assignment of New Board Members to Re-Establish Final Decision Quorum
The Competition Board (the “Board”), the competent decision-making organ of the Turkish Competition Authority, no longer has the quorum required to render final/executable decisions as the tenure of three (3) members came to an end as of the beginning of August 2022. Final decisions, including merger clearance decisions, closure of pre-investigation and investigation procedures, are currently pending while the Board is awaiting official assignment of new board members to re-establish final/executable decision quorum.
Dilek Akdas Kokenek Returns to Private Practice as Moral, Kinikoglu, Pamukkale, Kokenek Partner
Former CicekSepeti.com / Lolaflora.com Chief Legal Counsel Dilek Akdas Kokenek has joined Moral, Kinikoglu, Pamukkale, Kokenek as Partner and Head of the IT & C department.
Pinar Tuzun Joins HSBC Turkey as Company Secretary
Former Global Kapital Group Company Secretary Pinar Tuzun has joined HSBC as its Company Secretary in Turkey.
Paksoy Advises OLX on Acquisition of Stake in Pilot Garage
Paksoy has advised OLX Group's Letgo Otoplus on its acquisition of a 25% stake in Pilot Garage from its founders, the Emre family. Yonet Attorneys at Law reportedly advised the sellers.
Winds of Change @ E-commerce
The Turkish Law No. 6563 on the Regulation of Electronic Commerce (“E-Commerce Law”) adopted in 2014, basically regulates the responsibilities of e-commerce service providers ("Service Provider") and e-commerce intermediary service providers (“Intermediary Service Provider”), the contracts made over electronic communication tools and their obligations to provide information based on electronic commerce, and the sanctions that can be applied. The E-Commerce Law also aims to provide an environment of trust in the electronic commerce market, protect personal data, the confidentiality of communication, and protect consumers in their transactions in the electronic commerce Marketplaces (“Marketplace”).
Guleryuz Partners Advises Haver Farma on Acquisition of MS Pharma in Turkey
Guleryuz Partners has advised Haver Farma Ilac on its full acquisition of MS Pharma SARL's Turkish subsidiary, MS Pharma Ilac. PwC Legal reportedly advised the seller.
Onur Sumer Joins Ericsson as Group Legal Counsel Privacy
Turkish lawyer Onur Sumer has joined Ericsson in Stockholm as the company's Group Legal Counsel Privacy.