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

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