Global law firm White & Case LLP and GKC Partners advised Ordu Yardımlaşma Kurumu (OYAK) on the sale of a stake in Hektaş Ticaret T.A.Ş. (Hektaş) through a secondary share placement to institutional investors in and outside of the Republic of Türkiye.
The Transaction involved the sale of 716,550,000 shares in Hektaş, corresponding to 8.5 percent of the Company's issued share capital. The placement raised gross proceeds of approximately TRY 2,429,104,500 (around US$52.3 million) through an accelerated bookbuilding process (ABB), with the deal pricing at TRY 3.39 per share.
HSBC Bank plc (HSBC) acted as Sole Global Coordinator and Bookrunner to the Selling Shareholder in relation to the Transaction.
OYAK remains the largest shareholder of Hektaş and continues to support the Company's strategy and long-term growth in the agricultural chemicals sector.
OYAK is Türkiye's first and largest complementary occupational pension fund outside the social security system of Türkiye. As Türkiye's largest complementary occupational pension fund, OYAK provides its members with supplementary benefits in retirement, death, and disability. As OYAK's chemical agriculture company, Hektaş manufactures, imports and markets agricultural products, fertilisers and veterinary medicines in Türkiye.
The White & Case team which advised on the transaction led by partner Laura Sizemore (London) and included associates George Davie (London) and Bob Lehner (New York). The GKC Partners team in Istanbul was led by counsel Derin Altan and included associates Cenk Civan and Muhammed Aşula. White & Case has a professional association with Istanbul-based GKC Partners.
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