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Clifford Chance

Clifford Chance
Türkiye<br />


With over thirty years of experience in Türkiye, we have a broad understanding of the local market.

Our clients include leading Turkish and international corporates, banks and financial institutions, investors and government entities.

High-profile domestic and international work has built our market-leading reputation, combining vast experience in the Turkish market with the reach and resources of the firm's international network.

An international capability grounded in local know-how

We keep a long-standing commitment to Türkiye, which has given us a deep understanding of the Turkish market and unparalleled expertise in cross-border transactions. After more than 30 years of advising domestic and international clients on Türkiye related matters, we have been operating on the ground in Istanbul since 2011, first in cooperation with Yegin Ciftci Attorney Partnership and then with CIFTCI Attorney Partnership. Our Istanbul Office focuses on a wide range of infrastructure, energy, M&A, corporate, finance and capital markets work where we already enjoy a strong reputation.

The highest level of service across the entire legal spectrum

A local presence and established relations with key players in the Turkish market are key for successfully completing transactions. We have built our capability to match our clients' business needs work in a wide range of industries, operate all over the world, and need to act decisively when opportunities or issues arise. We meet these needs with our top-grade experience, technical skills and on the ground capability. We use our industry experience, global reach and innovative thinking to help them reach their business goals.

Our Istanbul office is an integral part of our network

We know how to use the right resources to get the best results for clients on domestic matters and on international transactions where we regularly form extended teams with colleagues from our international network. We have close working-relationships with colleagues from around the globe to deliver practical advice on complex issues. We use our international reach, technical excellence and client-friendly approach to deliver complex transactions and build longstanding client relationships.

Our English law capability and, through CIFTCI Attorney Partnership, our local law expertise, sets us apart in the Turkish market. Our ability to offer both Turkish and English law advice in one single firm streamlines the process for our clients and provides significant efficiency savings. Our lawyers have excellent knowledge of local market trends and practice. We are the go-to law firm for banking and finance, project finance, mergers and acquisitions and capital markets.

A team with a proven track record

We take a one firm approach to our clients' needs with integrated cross-practice and cross-border teams working together to achieve success. We know how to make our resources, which include 3,500 lawyers across our international network, work for all our clients and can call on the specialised skills of globally-recognised, top-ranked lawyers to help them reach their business goals. Our lawyers have first-hand experience of the technical and practical aspects of the Turkish market and are familiar with international best practice, used to complexity and to working in extended teams.

Unrivalled experts in key growth sectors in Türkiye

Over the last decades we have been working on a number of landmark deals and high-profile cases and hold an unrivalled expertise in key growth sectors in Türkiye:

  • Infrastructure: Our team holds a strong track record in the landmark infrastructure projects in Türkiye. We are a recognised market leader, domestically and internationally, providing advice to government bodies, sponsors, investors, financial institutions, bondholders, and independent contractors in the context of PPP and other infrastructure finance transactions, including port, airport, tunnel, hospital, bridge, road, and railway projects.
  • Energy: Our team’s experience extends across key energy sectors, including renewables, oil, gas and petrochemicals, nuclear, mining and metals, conventional power, water and waste. We have an in-depth understanding of the regulatory environment and commercial drivers.
  • Technology, Media & Communications: We bring the right mix of industry knowledge and experience to your TMT transactions. The team provides transactional and regulatory advice in connection with mergers and acquisitions, compliance, anti-trust and competition, financing and capital markets.
  • Consumer Goods & Retail: We support our clients in this sector in all key areas of their business, from strategic growth and divestments to commercial relationships, regulatory compliance, strategic acquisitions, disposals and major financings.
  • Private Equity: We have market-leading experience in all aspects of private equity transactions and regularly advise both local and international players on buyout and growth capital transactions across numerous sectors. We represent a wide range of global, regional and emerging markets financial investors, including private equity houses, banks, specialist infrastructure and private equity real estate funds and other financial institutions.
  • Banks: We have a world leading Banks sector group and are involved in many of the market's ground-breaking deals. The ongoing market turmoil continues to drive M&A activity across the sector as institutions seek to reshape their operating models or capitalise on new opportunities. We have a pre-eminent reputation for advising significant number of banks on complex strategic acquisitions or disposals. Our specialist knowledge of the sector and its issues enables our lawyers to provide results driven commercial advice to banks on some of their most complex transactions and to help them address some of their most challenging business issues.
  • Healthcare, Life Sciences & Chemicals: Our deep understanding of the healthcare, life sciences & chemicals industries is integral to our ability to offer the highest quality advice and solutions wherever we operate. We focus on industry sectors so that we can provide you with access to our combined knowledge, expertise and experience by sector; and lawyers who know the risks and challenges within your industry and who proactively bring insights to you. Our sector approach ensures that our lawyers truly understand the healthcare, life sciences & chemicals industries with their regulatory and commercial challenges.
  • Transport & Logistics: Through our work with leading transport and logistics companies, their advisers and their suppliers, we have developed the industry knowledge required to provide specialised support. As an interdisciplinary group with a global presence, we can field an informed and highly qualified team of lawyers in major markets around the world including Türkiye.

Recent highlights

  • Advising Arçelik A.Ş. on the JV to be established with Whirlpool and the internal restructurings to be completed for the purposes of this JV
  • Advising Abu Dhabi Developmental Holding Company PJSC (ADQ), the Abu Dhabi-based investment and holding company, in relation to the acquisition of Birgi Mefar Group (BMG), a leading production service provider for sterile injectable product
  • Advising Assa Abloy, the Sweden-based conglomerate, that provides advanced locking and access management systems, in relation to the acquisition of VHS Plastik Metal, a leading Turkish manufacturer
  • Advising Actis, a major international Private Equity House and a leading investor in growth markets, in relation to the potential acquisition of controlling stakes in major electricity distribution and retail companies in Türkiye
  • Advising Asterion Industrial Partners on the indirect acquisition of İskenderun Enerji Üretim ve Ticaret A.Ş. and Oyak Steag Enerji Ticareti ve Hizmetleri A.Ş., the company operating the İsken Sugözü coal-fired thermal power plant, as part of the global acquisition of STEAG, a green-energy committed company. (Global deal value: approx. EUR 2.6b)
  • Advising Actera Group in the sale of Vector Yatırım Holding A.Ş. and its wholly-owned subsidiary, Tam Finans Faktoring A.Ş. to MNT-Halan
  • Advising AST Turkey Metal Sanayi ve Ticaret A.Ş., a member of the Arvedi Group, in the sale of its steel service centre to Sarıtaş Çelik Sanayi ve Ticaret A.Ş.
  • Advising IFC in relation to acquisition of IKAS Teknoloji
  • Advising IFC in relation to the sale of its shares in one of its equity portfolios companies in Türkiye; MNT Sağlık
  • Advising Boheme Investment GmbH and Kamal Saleh Al Mana in relation to acquisition of Anadolu Restoran operating McDonald’s restaurants in Türkiye
  • Advising the finance parties and ECAs in relation to the Mersin-Adana-Osmaniye-Gaziantep High Speed Rail Project, on the UKEF and EKN facilities to the Republic of Türkiye acting through the Ministry of Treasury and Finance (€781 million)
  • Advising the arranger in respect of two facilities, covered by ECAs, to Türkiye Petrolleri A.O. in relation to Phase 1 of the Sakarya Offshore Gas Field Development Project (US$611 million)
  • Advising Fraport and TAV Airports on €1.225 billion bridge financing for the capacity expansion of Antalya Airport and subsequent €658 million bridge and DFI loan «Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023: Infrastructure Finance Deal of the Year»
  • Advising EBRD regarding loans, totalling over half a billion US dollars, made available to Akbank, Denizbank, İşbank, QNB Finansbank, and Yapı Kredi as part of the Disaster Response Framework
  • Advising the joint lead managers, BoFa, Emirates NBD, ING, JP Morgan and Société Générale, on the US$715 million Green Bonds due 2028 issued by the Istanbul Metropolitan Municipality. The Reg S/144A offering was the first green bond issued by a municipality in Türkiye, as well as the CEEMA region
  • Advising Arçelik Global, in connection with its issuance of €350 million 3.0% Green Bonds due 2026. This was Türkiye’s first-ever corporate green bond issuance in international markets, a milestone for development of sustainable finance in the country
  • Advising Arçelik A.Ş. on its issuance of US$400 million notes due 2028, marking the first Eurobond issuance by a Turkish private sector company in almost two years
  • Advising the joint lead managers, BofA Securities, Standard Chartered Bank, ING, JPMorgan, on Republic of Türkiye’s offering of US$2.5 billion of its green bonds, Türkiye’s first such financing transaction to date «Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023: Debt Deal of the Year – Türkiye»
  • Advising the joint lead managers, on the inaugural issuance of US$500 million senior unsecured lease certificates by Ziraat Katılım. The Sukuk were issued in accordance with Regulation S of the U.S. Securities Act of 1933 and are listed on Euronext Dublin
  • Advising BNP Paribas, Goldman Sachs, J.P. Morgan Securities, Deutsche Bank, Emirates NBD, MUFG Securities EMEA, PNC Capital Markets and Bank of China (Europe) S.A. as joint bookrunners on the offering of $800 million 9.50% senior secured notes, followed by a subsequent $500 million 9.375% senior secured notes by We Soda


We have won numerous awards, recent highlights including:

  • Debt Capital Markets Legal Adviser of the Year – Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023
  • Banking & Finance Legal Adviser of the Year – Bonds, Loans & Sukuk Türkiye Awards 2022
  • Shortlisted for the Turkish Law Firm of the Year – IFLR 1000 Europe 2024
  • Debt Deal of the Year: Republic of Türkiye’s Inaugural Green Bond Offering of US$2.5 Billion – Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023
  • Infrastructure Finance Deal of the Year: Antalya Airport Project – Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023
  • Local Currency Loan Deal of the Year: Uludağ Energy's energy investments in the Southern Marmara Region of Türkiye – Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards 2023
  • Rail Transport Export Finance Deal of the Year: Ankara-İzmir High-Speed Electric Railway Project – TXF Awards 2022
  • Transport Deal of the Year – Heavy Rail: Ankara-İzmir High-Speed Electric Railway Project – IJGlobal Awards 2022
  • ECA, DFI, IFI Deal of the Year Ankara-İzmir High-Speed Electric Railway Project – Bonds, Loans & Sukuk Awards Türkiye 2022
  • Türkiye Deal of the Year: The Republic of Türkiye’s US$2.5 billion and US$3 billion Sukuk – IFN Awards 2022

Directory and client comments

  • "They exhibit a remarkable level of expertise, showcasing a deep understanding of nuanced legal issues."
    "Their collective knowledge and diverse skill sets contribute to a comprehensive approach to tackling complex cases."
    Chambers & Partners: Banking & Finance, Türkiye 2024
  • "Its lawyers manage to navigate issues well and they have a balanced and commercial-minded approach."
    Chambers & Partners: Corporate, M&A, Türkiye 2024
  • "Highly professional, open to communicate, easy to access at any time, well experienced, and supportive."
    "Each individual in the team is very dedicated and professional. Lawyers are very supportive and it is obvious they are doing their work with great dedication. One of their key strengths is client management skills."
    Legal 500: Banking, Finance and Capital Markets, Türkiye 2024
  • "Fantastic team, great expertise and insights."
    "The firm offers highly professional and devoted lawyers who provide a complete all round service in M&A transactions with foreign and local parties."
    "Senior partner Itir Ciftci is an extremely talented negotiator who offers great legal skills alongside a strong focus."
    Legal 500: Commercial, Corporate, M&A, Türkiye 2024
  • "I endorse the team’s practice as a leading force in the legal field. Its dedication to excellence, innovative spirit, and client-focused approach makes it a good choice for anyone seeking top-tier legal counsel in the project finance area in Türkiye."
    "A very talented team, which Sait Eryılmaz leads with remarkable effectiveness in his role as a partner. Lawyers demonstrate a commendable ability to meet tight deadlines without compromising on quality."
    Legal 500: Project Finance/Projects, Türkiye 2024
  • “Clifford Chance Türkiye's significant strength is the outstanding people in the team lead by the partner Sait Eryılmaz. I really appreciate how reliable and responsible Sait and the team are. I know the team has a lot of deadlines coming up and I'm impressed with how well the team is handling their responsibilities with these tight deadlines. The team also keeps impressing me with their ability to quickly respond to any queries raised with adequate information.”
    “From beginning to end, since the team was with us, we made our decisions effectively as a Lender Group in a very tight timeline and we were able to reach the financial close of the transaction on time thanks to Clifford Chance Türkiye Team.”
    IFLR1000: Banking, Türkiye 2023
  • “The team works very hard and is always available to provide advice. They strike a great balance between business judgement and risk management. They are responsive, professional and a pleasure to work with. They have deep knowledge and show full commitment to delivering the best possible result.”
    “Both Itır and Deniz offer their clients strong legal expertise, strategy and constant availability. They know how to find and simply explain solutions addressing the most complex difficulties.”
    IFLR1000: M&A, Türkiye 2023
  • “Clifford Chance Türkiye's team members are really good at their jobs. They all have the required knowledge and more in their specific area."
    “They take actions very fast and they are hardworking.”
    IFLR1000: Project Finance, Türkiye 2023




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