The Legal 500

Within Banking, finance and capital markets, Paksoy is a first tier firm,

Paksoy’s banking, finance and capital markets team is underpinned by expert tax and regulatory lawyers. It has a strong track record in securities, particularly IPOs and bond offerings, and has been advising on Islamic finance. The group acted for Citigroup and Liquidity House as lead managers in Kuveyt Türk’s direct sukuk issuance, the first such issuance by a Turkish bank. It also advised an international banking consortium on state-owned Vakifbank’s direct bond issuance. Capital markets expert Ömer Çollak and banking and finance specialist Togan Turan are recommended.

Within Competition, Paksoy is a second tier firm,

Paksoy provides general competition law advice to clients including Dow Chemicals, TimeWarner and Ferrero. It also advised Diageo on the Mey Içki acquisition. Pivotal figure Togan Turan is ‘very familiar with regulatory matters’.

Within Corporate and M&A, Paksoy is a second tier firm,

Paksoy is ‘very responsive’ and provides ‘the correct mixture of access to its senior lawyers and its associates’. The team advised GE Capital on the $3.7bn sale of an 18.6% stake in Garanti Bank to BBVA. Serdar Paksoy has ‘good knowledge and contacts’; Togan Turan is ‘very familiar with regulatory matters’; and Elvan Aziz is ‘highly knowledgeable in M&A, real estate and related transactions, and the ideal mixture of international and Turkish experience’.

Within Dispute resolution, tier 4

Paksoy handles disputes both domestically and internationally across a broad range of sectors including, but not limited to, financial services, technology, construction and real estate. Serdar Paksoy is the main contact.

Within Legal market overview,

The Turkish legal market features a mix of well-established, corporate-focused firms such as Hergüner Bilgen Özeke, Paksoy, Akol Avukatlik Bürosu and Cerrahoglu Law Firm, alongside an increasing number of ‘energetic newcomers’, whether they be spin-offs – such as Aritman Yildirim Aksun Law Firm with a number of its founding partners formerly being of Esin Attorney Partnership, a Member Firm of Baker & McKenzie International, a Swiss Verein – or new affiliations between international and local law firms, such as that of Esin Attorney Partnership, a Member Firm of Baker & McKenzie International, a Swiss Verein, or Chadbourne & Parke LLP and Cigdemtekin Sahbaz Attorney Partnership. International law firm capability is addressed in the Foreign firms section in this chapter.

Within Privatisation, Paksoy is a second tier firm,

Paksoy has a solid track record advising a number of participants, including investors and government agencies, on privatisation projects. It is advising investors on prospective bids in the gas and electricity sectors. Togan Turan is the main contact.

Within Project finance/projects, Paksoy is a first tier firm,

Paksoy has strong experience in project financing and IPPs. The team is advising a bank consortium (Isbank, Yapi Kredi and TSKB) on extending a $265m loan to Içdas for the construction and development of a coal-fired power plant. Togan Turan and Ömer Çollak are highly recommended.