Paksoy has advised the EBRD and IFC on their acquisition of a 5% stake in Akfen Yenilenebilir Enerji A.S., which holds the renewable energy asset portfolio of Akfen Holding A.S., constituting of hydro, wind, and solar energy investments. Closing took place on June 12, 2016 after clearance from the Turkish Competition Authority and Energy Market Regulatory Authority was obtained.
Paksoy reports that “according to the project agreements, each of EBRD and IFC has a right to hold up to circa 16% equity in Akfen Yenilenebilir Enerji A.S.”
The Paksoy team was led by Partners Elvan Aziz and Zeynel Tunc, supported by Senior Associate Asli Kehale Altunyuva.
Paksoy did not reply to our inquiry about counsel for Akfen on the deal.
