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ORJIN MASLAK, ESKI BUYUKDERE CADDESI NO:27 K:11, MASLAK, 34398 ISTANBUL, TURKEY
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Nortel Networks (Netas) Acquisition by OEP

January 2011

On 22 December 2010, One Equity Partners ("OEP") and Rhea Investments acquired 53.13% of the total share capital of Nortel Networks Netaş Telekomunikasyon A.Ş. ("Netas"), a listed company on the Istanbul Stock Exchange in Turkey, for a consideration of US$ 68,039,777 from Nortel Networks International Finance and Holding B.V. (in administration) ("NNIF").

Paksoy is pleased to announce that partners M. Togan Turan and Omer Collak acted as external counsel in conjunction with Latham & Watkins in representing One Equity Partners in this matter. The Seller, NNIF, is represented by Herbert Smith (as international counsel) and Somay (as local counsel) on this transaction.


For more information please visit www.paksoy.av.tr 

Legal Developments by:
Paksoy

  • SQUEEZE-OUT RIGHT IN PUBLIC COMPANIES -- TURKEY

    Squeeze-out and sell-out rights in Turkish public companies are regulated by the Communiqué on Squeeze-Out and Sell-Out Rights (the " Communiqué ") published in the Official Gazette dated 2 January 2014 effective as of 1 July 2014. The Communiqué was issued by the Capital Markets Board of Turkey (the " CMB ") in accordance with the Capital Markets Law and regulates the right to squeeze-out minority shareholders by the controlling shareholder and the minority shareholders' rights to exit the public company by selling their shares to the majority shareholder.
    - Paksoy

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