Salans Istanbul Represents STEAŞ in USD $2.04 Billion Deal

June 15, 2008 Salans' Istanbul office has advised STEAŞ, a joint venture between Azeri giant SOCAR and Turkish company Turcas Enerji AS, in a USD $2.04 billion privatisation tender, acquiring 51% of Petkim Petrokimya Holding's shares.

The team, comprised of lawyers from Salans and its local associate firm Özel & Özel, assisted STEAŞ in respect to the financing of the acquisition. Financing for the acquisition was part-capital and part-financing, with around USD $1 billion raised via institutions including Akbank and GarantiBank.

The project team included Istanbul Managing Partner Haluk Can Özel, Partner Orkun Güncan and Senior Associate Beren Özel from the Istanbul office, working alongside global colleagues including Co-Head of Salans' Global Banking and Finance Group Philip Prowse, Senior Associate Abigail Townley and Associate Roger Vallance in London.

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