A key market for many of our clients, Turkey continues to offer growth and investment opportunities. Clients look to White & Case for tailored international legal advice and an understanding of the economic, regulatory and political environment that can impact their objectives. Offering innovative solutions combined with a pragmatic attitude, we have played a role in the legal aspects of many of the market-transforming developments of the Turkish economy. We also regularly advise clients on some of the most important cross-border litigation and arbitration that impacts Turkey. White & Case works with GKC Partners in professional association on matters of Turkish law.

Our team has built deep relationships with market leaders across many sectors, resulting in astute, practical insight into how to get transactions done. Our clients include some of the largest banking and energy companies, both public and private, locally based and international. Our unparalleled experience in core sectors and continued involvement in the groundbreaking transactions has secured us the key mandates from our clients and repeatedly earned us "Top Tier Firm" rankings by the world's leading legal ranking organizations.

We have been present on the ground in and committed to the Turkish market since 1985—the first global law firm with a presence in Turkey. With over 30 years of experience in the region, an office in Istanbul and a professional association with GKC Partners in Istanbul, clients benefit from our deep roots and the fact we have worked on many "firsts" in the market. Notable deals include the first private equity deal, first global IPO, first securitization, first airport privatization and the largest private real estate transaction in Turkey.

Drawing on the global resources of the Firm, our team in Turkey bring both breadth of experience and local know-how to our clients' most important business challenges.



Tier 1 for Banking, Finance & Capital Markets, Financial Restructuring & Insolvency
Standalone Tier 1 Foreign Firm in Turkey
The Legal 500 Turkey 2022

Tier 1 for Banking & Finance and Capital Markets
Chambers and Partners - Turkey 2022

Turkey Corporate Law Firm of the Year
IFLR1000 Europe Awards 2021

Banking and Finance Legal Advisor of the Year
Bonds and Loans Turkey Awards 2021

Tier 1 for Banking, Project Finance and Corporate/M&A
IFLR1000 - Turkey 2021

Awarded in 3 categories at Bonds & Loans Awards 2021 by GFC Media Group.

2021 CEE Deal of the Year - Turkey
IPO of Hepsiburada.com on Nasdaq
2021 CEE Legal Matters Awards

Turkey M&A Legal Adviser of the Year
Mergermarket 2019


Landmark Turkish Port Acquisition deal in Turkey
Representation of IFM Investors, an Australian global institutional investment manager, in the acquisition of a 40% stake in Mersin International Port from the Akfen Group for US$869 million.

Major technology sector gaming startup transaction
Representation of Zynga Inc. in the acquisition of Turkish mobile gaming startup Gram Games for US$250 million in cash plus other considerations.

Global expansion of a Turkish e-commerce fashion online retailer
Representation of Goldman Sachs International in its primary and secondary purchase of a significant minority of shares in Modanisa Elektronik Mağazacılık ve Ticaret A.Ş. from a number of individual and corporate sellers. Modanisa later added the European Bank for Reconstruction and Development (EBRD) to its investors, and we also represented EBRD in this transaction.

Power management giant's acquisition in Turkey
Representation of Eaton Capital Unlimited Company, a subsidiary of Eaton Corporation, in connection with the acquisition of majority shareholding in Ulusoy Elektrik İmalat Taahhüt ve Ticaret A.Ş., a publicly listed company manufacturing medium voltage electrical equipment for MV electrical distribution networks and industrial plants.

BBVA acquisition of Garanti Bank
Representation of Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) in the acquisition of a 14.89% stake in Turkey's Garanti Bank for approximately €1.9 billion.

Financial restructurings
White & Case serves an important role in the Turkish financing arena, providing legal advice both on the borrowing and lending sides. In addition to the major restructuring transactions (including Bereket, Doğuş Holding, Gama, Arkas Holding), we have also played a significant advisor role in the regulatory framework related to restructurings. We acted for IFC and EBRD on the drafting and introduction of amendments to the Turkish financial restructuring programme that has been adopted.

Third Istanbul Airport Project: EUR 4.5 billion financing in Turkey
Representation of the lenders, consisting of six Turkish banks, namely Ziraat Bank, Halkbank, Vakıfbank, Denizbank, Garanti Bankası and Finansbank, on the EUR4.5 billion financing of the Third Istanbul Airport Project. The airport is constructed and operated on a BOT basis, by a joint venture company, Istanbul Grand Airport (IGA), established by Cengiz İnşaat San. Ve Tic. A.Ş., Mapa İnşaat ve Tic. A.Ş., Limak İnşaat San. Ve Tic. A.Ş., Kolin İnşaat Turizm San. Ve Tic. A.Ş. and Kalyon Havacılık ve İnşaat A.Ş. The total investment amount of the project is more than €10 billion, representing the largest airport financing to date globally.

One of the largest HPP privatization financings in Turkey
Representation of the lenders as their counsel for the financing of the privatization of Kadıncık I-II hydroelectric power plants and the refinancing of eight other hydroelectric power plant investments of IC Içtaş Hidroelektrik ve Termik Enerji Üretim ve Ticaret A.Ş. This is one of the first and largest HPP privatization financings done in the year 2016 (US$290 million estimated privatization amount and US$371.5 million portfolio financing).

Turkey's first Floating Storage Regasification Unit (FSRU)
Representation of Akbank T.A.Ş. in a financing package up to US$178.7 million (including a non-cash loan backed by a loan extended by Korean Export-Import Bank (KEXIMBANK) to Akbank T.A.S.), extended to an SPV incorporated in Ireland, sponsored by KOLİN and KALYON for the financing of the purchase of an FSRU vessel, ordered from Hyundai Heavy Industries in South Korea, which will be built under turnkey contract for a fixed price.

Public-private partnerships

We advised lenders and sponsors in most complex public-private partnership (PPP) projects including the following:

  • ERG İnşaat Ticaret ve Sanayi Anonim Şirketi in the EUR $1.1 billion financing of the Ankara – Niğde motorway project
  • Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Siemens Bank GmbH and Banca IMI S.p.A., as lenders, for the 475-bed Yozgat City Hospital PPP project, developed by Rönesans-Meridiam consortium
  • Gama Holding A.Ş. and Türkerler İnşaat, the sponsors, for the financing of construction and operation of the 2,060-bed İzmir Bayraklı and 1,180-bed Kocaeli Integrated Health Campus; the total investment amount of both projects is approximately TRY 2.7 billion
  • Lenders for financing the construction and operation of the 1,550-bed Adana Integrated Health Campus, won by the consortium of Sıla Danışmanlık Limited, Meridiam Infrastructure, Rönesans Holding and Şam Yapı
  • Lenders (including ECAs) for financing construction and operation of the 2,680-bed İkitelli Integrated Health Campus, won by a consortium of Emsaş A.Ş., PBK Architects Inc., Ascension Group Architects LP, Allen Shariff Corporation & Meinhardt Group, May Eczane, Sürat Bilişim, Forcimsa Emprasa Constructora S.A. and Consortio International Eng. Consult – Şahin Tıp
  • Lenders (including IFIs) for financing the construction and operation of the 1,500-bed Kayseri Integrated Health Campus, won by a consortium of YDA İnşaat and INSO – Sistemi per le Infrastrutture Sociali S.p.A; this is the first PPP hospital project in Turkey

IPO of Turkish electricity distribution giant
Representation in the offering of 23,621,379,200 existing ordinary shares of EnerjiSA. This is one of the largest and most successful private sector IPOs in Turkey given its size (US$393 million) and attracted strong interest by the international and domestic investors (4.8 times oversubscribed). Citibank, BAML, HSBC, Deutsche Bank and Ak Yatırım acted as the largest equity capital markets consortium.

The first-of-its-kind AT1 compliant note issuance in Turkey
Representation of Yapı ve Kredi Bankası A.Ş., in the issuance of AT1 compliant notes worth US$500 million, which is the first issuance of AT1 compliant notes by a Turkish issuer. In addition to the issuance of AT1 notes, as part of the capital strengthening program of Yapı Kredi, we have represented Yapı Kredi in the rights issue worth US$1 billion.

First-ever Turkish mortgage-covered bonds
Representation of the arranger banks in the structuring of the first-ever Turkish mortgage-covered bonds. The proposed issuers are Türkiye Garanti Bankası A.Ş. and Türkiye Vakıflar Bankası T.A.O., which are, respectively, the third- and seventh-largest banks in Turkey.

Çukurova Holding A.Ş.'s victory in a seven-year dispute with Russia's Alfa Group
We secured a victory for Çukurova Holding A.Ş., as a seven-year dispute with Russia's Alfa Group came to an end when Çukurova regained its controlling interest in Turkcell, the largest mobile telecommunications company in Turkey.