The Great Istanbul Tunnel Project

The three-level subsea tunnel under Istanbul’s Bosphorus Strait will connect the city’s two sides (European and Anatolian) with one railway and two highways. Trains will pass through a tube in the middle, while tubes below and above will be for vehicular transit. The tunnel will be integrated into nine subway lines, the TEM Motorway, the E-5 Motorway and the Northern Marmara Motorway. Around 6.5 million passengers are expected to use the tunnel on a daily basis once it is completed in the next five years.

Halkali - Kapikule Railway Line Project

This railway project will connect North Sea, the Baltic Sea, the Mediterranean and the Black Sea. Thus, Turkey’s long lasted reputation of being a junction between East and West in the transport sector is planned to be strengthen with this project. It aims not only to connect but also to reduce carbon emissions and make electrically-driven railways. The tender process for the consultancy for the project has started. The construction works are be tendered by the end of 2018.

Offshore Wind Plant Project of 1,200 MW

The Renewable Energy Resource Areas project with the first wind plants to be constructed on the sea will be the first of its kind in the country. The Energy and Natural Resources Ministry of Turkey will accept applications for the wind plant until 23 October 2018. The ceiling price for one megawatt-hour was set as USD 8. Applicants will compete for the lowest bid in a reverse auction. The investor submitting the lowest bid will sign an energy purchase agreement, including the first 50 terawatts-hour of electricity production starting from the first commissioning of the plant.

Privatisation of Coal Reserve and Energy Production Area

The Privatisation Administration has announced a public invitation for the participation in a tender for privatisation of Coal Reserve and Energy Production Area located in Eskisehir, owned by Elektrik Uretim A.S. through delivery of operating rights. The deadline for bidding is extended to 26 October 2018. The provisional security amount is USD 25 million.

A New Period in Tourism Investments: Room Sales to Third Parties

Within the last year, it has become possible for tourism investors to get an extension of up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established or has been allocated in favor of the tourism investors or the operators. On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities, legalizing the sales of hotel rooms in the tourism facilities to third parties. Busra Ozden, Associate at SEE Legal’s Turkish member, Kolcuoglu…

KDK Discusses Turkey-specific Information on Confidentiality

KDK's attorneys Bihter Bozbay and Yasemin Guctekin discuss Turkey-specific information on confidentiality in an article, published by Practical Law. To read the article, please download it here.

KDK law firm awarded CEE Legal Matters 2017 Deal Of The Year Turkey award

Kolcuoglu Demirkan Kocakli Law Firm is the winner of the prestigious 2017 Deal Of The Year for Turkey award by CEE Legal Matters for its great success in Vitol Acquisition of Petrol Ofisi. In addition to the target’s size and significance for Turkey, this landmark deal is the largest transaction in the Turkish market within the last five years, with a total value for USD 1.45 billion.  The Firm thanks its colleagues from Hengeler Mueller and the KDK team who contributed in this success.

Shareholder Activism in Turkey

Shareholder activism is not a well-developed concept in Turkish law. Companies usually do not face activist movements as the majority of the companies are family-controlled entities and market players are not as aggressive as players in other countries. Examples of shareholder activism in Turkey are therefore very limited. It may become more prevalent if the investment climate in Turkey becomes more structured. The article by Gokce Ildiri in Yasemin Guctekin of Kolcuoglu Demirkan Kocakli law firm was published by Practical Law and can be read here.

KDK and Jeantet Organised Turkey - Africa Investment Summit 2018

The Turkey - Africa Investment Summit 2018, organised jointly by SEE Legal's Turkish member Kolcuoglu Demirkan Kocakli Attorneys at Law (KDK) and the leading French law firm Jeantet, took place on 16 April in Istanbul. There were several panels, where French and African lawyers, business people and bureaucrats made very interesting presentations. KDK’s partner Okan Demirkan also made a presentation titled “Legal Approach – Turkish Investments in Africa” and acted as moderator in the “Structuring of Foreign Investments in Africa” panel. The full-day seminar attracted considerable attention…

KDK's Dispute Resolution Team with 87 percent Success Rate for 2017

KDK’s Dispute Resolution team has achieved an 87 percent success rate in commercial disputes concluded in the year 2017. This has been the team’s most successful year so far, but a reference rate for this team’s future.

KDK Highly Ranked by Mergermarket

In its 2017 full year overview for the Turkish M&A market, Mergermarket has ranked KDK number 2 by deal count and number 3 by deal value. According to Mergermarket’s 2017 full year trend report, KDK is a leading law firm in M&A (based on the combined criteria of deal value and deal count). The Firm is also the leading independent Turkish law firm both by deal count and by deal value in Mergermarket’s 2017 overview.

Kolcuoglu Demirkan Kocakli is Pleased to Announce the Promotion of Ms. Begum Incecam to Partner

Kolcuoglu Demirkan Kocakli is pleased to announce that Ms. Begum Incecam has become the firm's new partner, as of January 2018. The firm has four partners now. Begum has been working at Kolcuoglu Demirkan Kocaklı since 2008. She has broad experience in corporate law, M&A, capital markets and competition law.