Kerem Turunç’s article entitled “Up and Coming” was published in the special Turkey supplement of the July/August issue of the International Financial Law Review (IFLR) magazine. The article is an overview of the Turkish capital markets, in particular the recent efforts to harmonize the country’s securities legislation with EU regulations. The article is available on...

TURUNÇ is acting as Turkish deal counsel in Sealed Air’s proposed $4.3 billion acquisition of Diversey Holdings. The closing of the transaction in expected to happen in 2011 after receipt of customary regulatory approvals. Diversey is a global commercial cleaning, sanitation and hygiene solutions provider. Sealed Air is a global manufacturer of packaging, and performance-based...

The U.K. Ministry of Justice has recently issued its guidance (the “Guidance”) regarding the U.K. Bribery Act 2010 (the “Act”), which is to come into effect as of 1 July 2011. Given its extraterritorial jurisdictional implications, we believe that the Act is of relevance to Turkish and other non-U.K. companies doing or thinking about doing...

Elektrik Piyasası Düzenleme Kurumu’nun 5 Nisan 2011 tarihli ve 27896 sayılı Resmî Gazete’de yayınlanan Elektrik Piyasası Lisans Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmeliği ile, bahsi geçen yönetmelikte (“Yönetmelik”) bazı değişiklikler yapılmıştır.Öncelikle, Yönetmelik’te yapılan değişiklikle altı yeni hüküm eklenmiştir. Rüzgar ve güneş enerjisine dayalı üretim tesisi kurmak amacıyla yapılan lisans başvurularında kaynak bazında standardına uygun ölçüm bulundurulması...

Sanayi ve Ticaret Bakanlığı’nın 18 Mart 2011 tarihli ve 27878 sayılı Resmî Gazete’de yayınlanan Sermaye Şirketlerinin Genel Kurul Toplantıları ve Bu Toplantılarda Bulunacak Sanayi ve Ticaret Bakanlığı Komiserleri Hakkında Yönetmelikte Değişiklik Yapılmasına Dair Yönetmeliği ile, görev süresi dolmuş yönetim kurulu ve denetim kurulunun genel kurulu toplantıya çağırabilmesine imkan imkân tanınmıştır. Aşağıdaki tabloda bahsi geçen yönetmeliğin...

The Turkish Ministry of Industry and Trade has issued a decree,* published in the Official Gazette and entered into force on 18 March 2011, amending certain rules governing general assembly meetings of capital stock companies. With the amendments, boards of directors and audit committees of capital stock companies are now permitted to call a general...

On 16 March 2011, the Capital Markets Board of Turkey issued two communiqués, which amended certain provisions of two previously issued communiqués. Among other things, the amendments create certain exemptions for issuers whose shares are traded on the Emerging Companies Market of the Istanbul Stock Exchange and expand the scope of certain exemptions and thresholds...

TURUNÇ is pleased to announce that Kerem Turunç has joined the firm as a partner. Kerem joins us from Cleary Gottlieb Steen & Hamilton LLP, having worked in that firm’s New York and London offices. Kerem is an expert in cross-border financial and corporate transactions. He has extensive experience in public and private securities offerings...

Esin Çamlıbel authored the Turkey chapter of the third edition of The Private Competition Enforcement. The book is a multijurisdictional guide to private antitrust litigation in 24 jurisdictions. The contributing editor is Ilene Knable Gotts of Wachtell, Lipton, Rosen & Katz. You can download the Turkey chapter here. Please see our Publications page for other downloads. Reproduced with...