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The Turunc Law Firm has advised Turkish chemicals maker Egesil Kimya Sanayi ve Ticaret A.S. on a EUR 15 million loan from the EBRD to to increase production of precipitated silica, a key component of energy-efficient tires that reduce carbon emissions.

Turkey’s first data protection and privacy law (the “Law”) came into force on April 7, 2016. The Law, which is largely in line with the EU’s Data Protection Directive, aims to safeguard the fundamental rights and freedoms of individuals, in particular their right to privacy, with respect to the processing of their personal data.

Turunc provided Turkish legal advice and the Kyriakides Georgopoulos Law Firm acted as Greek legal advisor to Israel's Rivulis Irrigation Ltd. in relation to its acquisition of 100% of the shares in the Greek company Eurodrip SA from US fund Paine Schwartz Partners, LLC. Israel's Naschitz, Brandes, Amir & Co. was lead counsel for the buyers, while Freshfields Bruckhaus Deringer and A. S. Papadimitriou & Partners advised the sellers.

Many years in the making, the Istanbul Arbitration Centre (“ISTAC” or the “Centre”) was finally established in 2015 and began picking up steam in 2016. The first plans to form an arbitration Centre in Istanbul were laid out by the Turkish government in 2009 as part of the country’s action plan and broader strategy to make Istanbul a bigger financial hub.

Turunc has advised Taxim Capital on its acquisition of a 40% stake in the Turkish casual dining chain Big Chefs from current shareholders Gamze Cizreli and Saruhan Tan, each of whom had their 50% shares in the company diluted. The Pelister Atayilmaz Enkur Law Office (PAE) advised the sellers on the deal.

The Turunc law firm has advised Elba HR (now being rebranded as Peoplise) on investment into the company by Revo Capital. BTS & Partners advised Revo on the investment, which was part of the Borsa Istanbul Private Market (BIST).

The Buzz is a short summary of the major and relevant topics of interest in Central and Eastern Europe, provided by those best positioned to know: law firm partners and legal journalists/commentators on the ground in each CEE country.

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