Economic Crisis – Implications of Global Economic Crisis on Turkey

Reviewed at Chadbourne-sponsored Event

New York — January 28, 2009 – LawFuel Legal Newswire – Chadbourne & Parke LLP sponsored a panel discussion on the global economic crisis and Turkey.

The event, presented by The American Turkish Society, featured Chadbourne partner AyŸe Yüksel as moderator; Murat Sungur Bursa, CEO, Zorlu Energy Group; Eva Sanchez, CEEMEA Senior Strategist, JP Morgan Chase; and Ernest Stern, partner, The Rohatyn Group. The panel discussion was held on January 27 at Chadbourne’s New York offices.

“Chadbourne has been representing foreign investors in Turkey for decades,” said Ms. Yüksel, who noted the event was held in part to help clients get a better understanding of the current economic situation in Turkey.

“Despite the economic crisis, our clients are still interested in pursuing opportunities in Turkey,” she said, among those being U.S. and Middle Eastern private equity funds currently negotiating acquisitions in Turkey.

The economy has changed the nature of some of the work, but Ms. Yüksel said Chadbourne continues to be active in major deals for clients in Turkey and is proactively developing sophisticated legal strategies for the changing economy.

The other speakers on the panel noted that while the global financial crisis is serious for Turkey, the country’s economy is now more resilient than it has been in the past. “2009 will be a tough year for Turkey as it will be for many countries and the country’s economy might stop growing,” said Ms. Sanchez. “But Turkey is in a better position now to tackle such a crisis.”

Ms. Yüksel heads Chadbourne’s MENA/Turkey Corporate Practice Group. She has extensive experience in a range of corporate transactions, including mergers and acquisitions, private equity investments, privatizations, joint ventures, strategic alliances, and financing transactions. Ms. Yüksel regularly represents foreign strategic investors and private equity investors with an interest in the Turkish market, as well as Turkish clients in their cross-border transactions. Most recently, she represented Koç Holding in the sale of its stake in the Migros supermarket chain for $1.66 billion, in what was the largest private equity acquisition to date in Turkey. Ms. Yüksel also represents companies, private equity, sovereign wealth and other investment funds and financial institutions in cross-border transactions involving the Middle East and North Africa. She has significant experience representing non-U.S. issuers in Rule 144A/Regulation S securities offerings


DLA Piper Extends Middle East Footprint With Official Launch Of Oman Office

Muscat – LawFuel.com – Legal Announcements Daily – DLA Piper, one of the world’s leading legal services providers, has announced its latest strategic expansion in the Middle East with the official opening of its Oman office. The move enables DLA Piper to further service its national, regional and global clients in Oman.

The office will extend DLA Piper’s capabilities in Oman to expand on the 12 years of legal practice by local practitioners Robert Gruendel and Bruce Mullins and will focus on sectors including: infrastructure; projects and finance; construction; banking; corporate; real estate; telecommunications and technology; media and entertainment; and regulatory.

Members of DLA Piper’s Global Board present at the official launch included Joint CEO Sir Nigel Knowles, who was recently knighted in HM The Queen’s New Years Honours 2009 for services to the legal profession, The Baroness Symons of Vernham Dean, Former UK Minister for the Middle East and Senior International Advisor to DLA Piper, Robert Gruendel, Co-Chair of the Global Energy Sector at DLA Piper and legal practitioner with over a decades’ experience of project work in Oman and other Gulf states, and David Church, Regional Managing Partner for the Middle East at DLA Piper.

“The policies of HM Sultan Qaboos have created a prosperous, modern, outward-looking nation for the 21st century,” said Bruce Mullins, Oman Managing Partner. “The opening of DLA Piper Oman, with its broad legal expertise, global knowledge and in-depth sector specialisation, will further extend our global services in Oman to ensure that we continue to play a prominent role in the strategic development of Oman and its business environment.”

The Oman practice is already well established with the Government of the Sultanate of Oman and its investment entities. Managing Partner Bruce Mullins has more than 12 years’ experience in the country and long-term dealings with all the major ministries, senior government officials and private sector CEO’s on strategic national and international deals. In cooperation with New York-based Robert Gruendel, Co-Chair of DLA Piper’s Global Energy Sector, Bruce has played a key role in Oman’s major development projects.

“The opening of DLA Piper’s office in Oman builds on long-standing government relations and reflects our commitment to the Sultanate,” commented David Church, Regional Managing Partner, Middle East. “We believe that Oman offers a sound opportunity for further growth in the region with its diversifying economy, ample reserves, high domestic demand and strong programmes of infrastructure, and development projects drawing investment both regionally and globally. We look forward to providing legal counsel that will continue to support the ongoing needs of Oman’s growing economy.”

DLA Piper already has a significant presence across the Arabian Gulf which includes Abu Dhabi, Dubai, Doha, Riyadh and Kuwait. The Oman office reinforces DLA Piper’s commitment to the Middle East and in line with its full service offering will provide businesses and ministries with legal advice across a range of disciplines.

ENDS

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