GKC Partners and White & Case have advised the Qatar Investment Authority on its acquisition of a 10% stake in the Borsa Istanbul stock exchange from the Turkey Wealth Fund, which retains an 80.6% stake. Clifford Chance and the Ciftci Law Firm advised the Turkey Wealth Fund on the transaction.
The MoU was signed by Zafer Sonmez, CEO of the Turkey Wealth Fund, and Mansoor bin Ebrahim Al-Mahmoud, CEO of the Qatar Investment Authority (the sovereign wealth fund of the Gulf state), at the presidential palace in Ankara.
The GKC Partners team was led by Partner Emre Ozsar and included Associates Can Tolga Tezel and Gokcen Durgut.
White & Case's team included Partner Ashley Ballard and Associate Richard Wilson.
Ciftci's team included Partner Itir Ciftci, Senior Associate Umut Ozdogan, and Associate Seran Kalyoncu. Clifford Chance's team, which advised on English law elements of the deal, was led by Prague-based Managing Partner Alex Cook.
Editor's note: This article was updated to more accurately reflect the composition of GKC's and White & Case's teams.