The Legal 500

SUN PLAZA, BILIM SOKAK, NO 5, K: 14, MASLAK, 34398 ISTANBUL, TURKEY
Tel:
Work +90 212 366 4700
Fax:
Fax +90 212 290 2355
Web:
www.paksoy.av.tr
Email:

Show all Press releases

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

Legal Developments in Turkey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • New Regulation for the Turkish Banking Industry: Towards a Healthy Synthesis Between the Banks and t

    Turkish banking industry is considered one of the strongest in Europe. The crisis ridden global banking industry had experienced numerous difficulties following the 2008 market collapse, but Turkish banking industry had survived the crisis with relatively insignificant scars.
  • A Touchstone in Energy Financing: Reduced Yield and Turkish Insurance Market

    The effect of climate change is not only an environmental problem today as it directly relates to the resource based industries.  In today's world, the scientific assessments lead the players of energy to reflect on their project viability.  In direct proportion to the growth in financing renewable projects, insurance companies and underwriters are also expected to formulate their risk assessments on resource-oriented allocation models.  Since especially the incontestable growth of ancillary instruments in Europe and  the Japan the warranties in financing the "energy as the capital and the resource itself" yields new insurance coverage.
  • Tariff and the Non-Tariff Based Renewable Energy Incentives in Turkey

    Turkey is one of the fastest growing economies among the emerging markets. Its 4% average growth rate throughout the last decade catapulted her in to a class of its own among the MENA region.
  • What will TTIP Bring for Turkey?: Legal and Trade Related Issues

    Known by its acronym TTIP, Transatlantic Trade and Investment Partnership has the capacity to serve as a game changer in global economic balances. At its core TTIP is a free trade agreement between the United States and the European Union with the underlying objective to increase bilateral trade among two economic blocks by the removal of tariff and non tariff based obstacles before the Transatlantic trade.
  • Board Member Liabilities Under Turkish and Belgian Laws

    Considering the significant role endorsed by board members within companies, it is important that directors know in which situations they may encounter civil or criminal liabilities for their actions. In general, the rules regarding the responsibilities of board members are part of corporate governance code of conduct. However, in many countries such as Turkey and Belgium liability rules applying to directors are integrated within the legislation directly. This brief information note targets to summarize the liabilities of the members of the boards of directors of the capital companies in Turkey and in Belgium. 
  • Domain Name Regulations in Turkey and in Singapore

    In an era characterized by the growth of the activities developed through internet, it is essential that coherent and complete systems organizing domain names are established. In this perspective, it is interesting to analyze how different countries regulate the domain names relying on their ccTLDs. This brief aims to compare regulations regarding domain names both in Turkey and in Singapore. 
  • Payment & Security Settlement Systems and E-Money Insutitions in Turkey

    The law regulating electronic money (e-money) and electronic payments (e-payments) in Turkey, namely the Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions No. 6493 (the "Law") entered into force as of June 27, 2013 following publication at the Official Legal Journal (Gazette) dated June 27, 2013 and No. 28690.
  • Electricity Prices in Turkey and The Market Liberalization

    The recent growth of the Turkish economy that had sprawled to the entire last decade gave birth to a new phenomenon of energy price hikes. The country's growing appetite for ever more energy supplies necessitates a coordinated action on the part of the regulatory authorities to make the energy prices to stay in a stable and predictable course.
  • How Can Turkish Banking Cope with the Changing Global Banking Dynamics?

    2008 global economic meltdown had served as an important wake up call for the global banking industry. The complicated web of interrelated financial instruments created by investment banking gurus, accompanied by a lax regulatory regime came to create one of the biggest financial disasters after the Great Depression and itself termed by many as the Great Recession costing millions of people their savings, jobs and houses.
  • American Defense Industry: Does the Legal Regime Hamstring the Business?

    The United States is still by far the leading country in defense spending, allocating a sizable portion of its GDP to produce cutting edge military technologies. However recent reports indicate a decline in American exports in military hardware. There are not only reports that point to an under-funding of procurement around USD$ 50 billion on an annual basis but also a general complaint on the part of the key players of the industry regarding the restrictive export regime that impedes the sale of military equipment to the non-American parties.