Turkish deal so far is in the
growing health care sector,
representing private equity
fund ADM Capital in its
$140 million investment in
Universal Hospitals Group
Kinstellar and other
international firms say that
Istanbul also provides a
new base for work involving
Northern Africa, the Middle
East, Russia, and Central
Asia. DLA Piper is advising The Trans-Anatolian
Pipeline Company (TAPCO), a joint venture formed by
Turkey’s Çalık Enerji and Italian utility ENI S.p.A, on its
$1.5 billion pipeline, which will carry Russian and Kazakh
oil between Mediterranean and Black Sea Turkish ports. In
addition, the firm has Middle Eastern clients who are looking to invest in Turkish infrastructure projects.
“There’s always some concern that the fast growth could
be a bubble,” says Levent Çelepi of CTK Law Office,
Schönherr’s partner firm.
“Up until about ten years
ago, dealing with [our coun-
try’s] financial crisis was a
national sport in Turkey.”
But, he says, Turkey’s gov-
ernment has been rela-
tively stable since 2002,
when the ruling Justice and
Development Party (AK
Party) came into power. In
June the party, which has
been largely responsible
for the financial reforms
and tremendous economic
growth, won reelection. That signals to investors that the
boom in energy, infrastructure, and privatization work will
likely continue. “What we know is that our clients aren’t
concerned about a bubble—they want to invest,” says
Schönherr Istanbul partner Markus Piuk.
Mete Yegin (left) started his own firm to ally with Clifford Chance.
“Turkey is dynamic,” says Clifford Chance’s Simon Williams (right).
“It’s not just about the future. It’s all happening now.”
Complimentary CLE Webinars – Online March 15, 2012
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