Istanbul's Durukan+Partners and Skadden Arps have advised LetterOne on the recent restructuring of Turkcell’s shareholding structure. Milbank and Turkey's Aksu Caliskan Beygo Attorney Partnership advised the Turkey Wealth Fund and Ziraat Bank, Sullivan & Cromwell and Herguner Bilgen Ozeke advised Telia Finland, and White & Case and the Kabine Law Firm advised Cukurova on the deal.
Apak Uras Law Firm has advised Teknoser on its acquisition of 100% of the shares of Fujitsu Technology Solutions Bilisim from shareholders Fujitsu Technology Solutions GmbH and Fujitsu Technology Solutions Holding B.V.. Balcioglu Selcuk Ardiyok Keki Attorney Partnership advised the sellers on the deal.
Turkish Data Protection Authority (“DPA”) published an announcement in October 26, 2020 regarding cross-border data transfers. The purpose of the announcement seems to be providing a general response and the Turkish DPA’s views to the criticism and feedback received from private sector and academic institutions regarding the difficulties in cross-border data transfers.
Baker McKenzie’s London office and The Esin Attorney Partnership in Istanbul have advised joint global coordinators Bank of America and J.P. Morgan, joint lead manager HSBC, and co-managers Radobank and Renaissance Capital on Ulker Biskuvi Sanayi's issuance of USD 650 million Eurobonds due 2025. White & Case advised the issuer on the deal.
On June 3, 2020, CEE Legal Matters reported that White & Case and its associated Turkish firm, GKC Partners, had advised interactive entertainment company Zynga Inc. on its USD 1.8 billion acquisition of Istanbul-based mobile gaming company Peak Oyun Yazilim ve Pazarlama, A.S. Baker McKenzie, working with its Turkish affiliate, the Esin Attorney Partnership, advised Peak on the transaction, which represented the largest acquisition of a start-up in Turkey to date, and makes Peak the country’s first “unicorn.” Dentons, along with its affiliate Balcioglu Selcuk Ardiyok Keki Avukatlik Ortakligi, advised selling shareholder Hummingbird Ventures CVA, Abcoo advised Peak Founder and CEO Sidar Sahin, the Verdi Law Firm advised selling shareholders Earlybird Verwaltungs GmbH, Evren Ucok, and Demet Suzan Mutlu Ucok, and BTS & Partners advised selling shareholder Endeavour Catalyst.
As national borders lose their importance when it comes to capital mobility, tax revenues have decreased significantly and tax avoidance has become a matter of common concern for countries. Therefore, exchange of information in tax matters has become one of the most important topics on the agenda of countries and international organizations in recent years.
Personal data, one of the most discussed topics in the legal world, is protected in many countries, and it is regulated in Turkey under the Personal Data Protection Law, number 6698 (the “Law”), and secondary legislation. In addition, the decisions of the Personal Data Protection Board established under the Law (the “Board”), provide insight on the rules applicable to data controllers and processors.
The Turkish capital markets have undergone many regulatory amendments and adjustments this year to provide a more robust environment in terms of transparency, competition, and stability for investors. As regulators have kept manipulative transactions in their sights to overcome the panic created by COVID-19, the Turkish Capital Markets Board (CMB) has imposed many sanctions and penalties.
COVID-19 has swiftly become a global outbreak, affecting not only people’s lives but also the global economic conjuncture. Like most countries, the Republic of Turkey, has adopted several measures to eliminate or lessen impacts of COVID-19 on the economy. With this article, we will provide an overview of the Turkish legal market and key legislation enacted during the COVID-19 outbreak.