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ARTICLE · 09 APRIL 2015

Enforceability Of Shareholders Agreements

Kolcuoglu Demirkan Koçakli
Kolcuoglu Demirkan Koçakli
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Kolcuoglu Demirkan Koçakli

Kolcuoglu Demirkan Koçakli

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Shareholders' agreements are commonly used in M&A transactions, whereby investors (either private equity funds or corporations active in the same sector as that of the target) become shareholders in the target.

TurkeyCorporate/Commercial Law
Gürhan Aydın
Gürhan Aydın
Okan Demirkan
Okan Demirkan
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Shareholders' agreements are commonly used in M&A transactions, whereby investors (either private equity funds or corporations active in the same sector as that of the target) become shareholders in the target. Existing shareholders and investors sign shareholders' agreements for the purpose of governing the shareholders' rights and obligations towards each other, as well as the company.

Shareholders' agreements are not specifically dealt with under Turkish law. According to Turkish legal scholars, shareholders' agreements have the nature of a constitution for shareholders that are party to the agreement. Different legal systems in different countries accept the premise that shareholders' agreements differ from the articles of association, the execution of which is a statutory requirement for the establishment of a corporation in almost every country, including Turkey.

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