28 November 2010
Clifford Chance has today announced its intention to extend further its business in the dynamic Turkish market and across South Eastern Europe with the opening of an office in Istanbul. The office will operate in cooperation with Yegin Legal Consultancy (YLC), Clifford Chance’s well-respected associate Turkish law firm, headed by Mete Yegin. London-based Finance partner, Simon Williams will lead the Firm’s practice in Turkey.
The Istanbul office will launch officially in early spring 2011 with an initial focus on the wide range of infrastructure, energy, finance and capital markets work where Clifford Chance already enjoys a strong reputation with major domestic and international businesses active in the Turkish market and where Mete Yegin is also considered a leading player.
David Childs, Clifford Chance Managing Partner, explains, “Since formalising our consultancy arrangement with Mete in January last year, our business in Turkey and the wider region has gone from strength to strength. It is clear from discussions with our clients that they see this as one of a number of important growth markets and are keen to see us establish a presence on the ground. Their view reflects our own focus on the fast growing economies in Asia, Latin America, Africa and the Middle East and our long-standing commitment to Eastern Europe.”
The team in Istanbul will work closely with Clifford Chance lawyers across the Firm’s international network to provide clients with access to the full range of the Firm’s expertise. Simon Williams and Mete Yegin will also continue their close cooperation with other partners in the Firm’s Turkish practice who have been instrumental in developing business in the region, including Paris partner Nicholas Wong, Frankfurt partner Riko Vanezis and incoming Senior Partner, Malcolm Sweeting.
Simon Williams, who will relocate to Istanbul in due course, adds, “The Turkish business environment is evolving fast and there is a strong group of very impressive corporations that are ambitious to expand. These businesses, alongside the major multinationals, are looking for the highest-quality international and Turkish legal advice around inbound and outbound investment. Combining our network and our deep expertise in the key sectors that are driving development in the region with the best-in-class Turkish legal advice provided by Mete’s team makes us particularly well placed to support these clients in meeting their ambitions.”
Clifford Chance has been advising domestic and international clients on Turkish-related matters for more than 30 years and is already considered a leading firm for energy, infrastructure, privatisation, banking and capital markets work in the region. In the last five years, the Firm has been involved in nearly every major Turkish infrastructure and energy project that has been internationally financed. Recent client mandates include representing major Turkish and international clients on the financing of the Eurasia Bosphorus Tunnel, the Boyabat hydro project, the EnerjiSA power portfolio, the Mersin and Bandirma Ports, the Ankara, Antalya, Izmir and Istanbul airports and the MMK Atakas steel mill, as well as gas distribution and electricity generation and distribution privatisations and debt and capital markets issuances for a number of issuers in the US and European markets.