15 January 2020
- Itir Çiftçi, Liu Fang, Tianning Xiang, Fang Bao, Yuling Geng, Ryan Wong, Claire Cao, Haoze Zheng
- Istanbul, Hong Kong, Beijing
Clifford Chance and Yegin Çiftçi advise consortium of Chinese investors on acquisition of Turkey's Third Bosphorus Bridge and the Northern Marmara Motorway
One of the largest infrastructure M&A transactions in Turkey and a landmark cross-border investment by Chinese investors in Turkey.
Clifford Chance and Yegin Ciftci Attorney Partnership have advised a consortium comprised of China Merchants Expressway Network & Technology Holdings Co. Ltd, China Merchants Union (BVI) Limited, Jiangsu Expressway Company Limited, Zhejiang Expressway Co. Ltd., Anhui Expressway Company Limited and Sichuan Expressway Co in their proposed acquisition of a 51% stake in ICA IC İçtaş Astaldi Üçüncü Boğaz Köprüsü ve Kuzey Marmara Otoyolu Yatırım ve İşletme A.Ş. ("ICA"). The completion of the acquisition remains subject to customary closing conditions.
ICA is the concessionaire of the 3rd Bosphorus Bridge and the Northern Marmara Motorway in Turkey, connecting the Asian and European sides of Istanbul, and is strategically located in the north western Turkish region of Marmara for freight and passenger transportation.
The transaction represents the one of the largest infrastructure M&A transactions in Turkey and a landmark cross-border investment by Chinese investors in Turkey.
Core team is comprised of lawyers from Istanbul, Hong Kong and Beijing. Yegin Çiftçi team was the transaction counsel also advising on Turkish law matters. The team was led by Istanbul Corporate/M&A partner Itır Çiftçi and counsel Kemal Aksel, supported by senior associate Umut Özdoğan and associate Aslı Kural. Clifford Chance advised on the international legal aspects of the deal, with M&A partner Fang Liu leading a team in Hong Kong and Beijing, including partners Frank Yuen and Tianning Xiang, senior associates Fang Bao, Yuling Geng, Ryan Wong and Claire Cao, and associate Haoze Zheng.
Itır Çiftçi and Fang Liu commented, "We are proud to advise on the acquisition of this landmark infrastructure project, which demonstrates our global strength in assisting on cross-border deals, including under the Belt and Road Initiative."
领先国际律师事务所高伟绅及其土耳其联营律所Yegin Çiftçi为中资联合体拟收购ICA IC İçtaş Astaldi Üçüncü Boğaz Köprüsü ve Kuzey Marmara Otoyolu Yatırım ve İşletme A.Ş. （简称"ICA"） 51%的股权提供法律服务。联合体成员包括招商局公路网络科技控股股份有限公司、招商局联合发展有限公司、浙江沪杭甬高速公路股份有限公司、江苏宁沪高速公路股份有限公司、四川成渝高速公路股份有限公司、安徽皖通高速公路股份有限公司。该交易待常见交割条件获得满足后交割。
该项目核心团队由伊斯坦布尔、香港、上海和北京的律师组成。Yegin Çiftçi团队担任项目的交易事务律师，并就土耳其法律事务提供建议，由伊斯坦布尔办公室并购业务合伙人Itır Çiftçi 和资深顾问律师Kemal Aksel领导，团队成员还包括Umut Özdoğan和Aslı Kural。高伟绅团队负责项目的国际法律服务，由并购业务合伙人方刘律师领导，香港、上海和北京三地多位律师参与本项目，包括合伙人阮家辉律师和向天宁律师，其他团队成员包括包昉、耿玉玲、黄励行、曹阳及郑镐泽。
Itır Çiftçi 和方刘律师表示：“我们很荣幸为这一具有里程碑意义的基础设施收购项目提供法律服务，这也彰显了高伟绅在为‘一带一路’倡议所推动项目在内的各类跨境交易在全球范围内提供法律服务的实力。”