Global law firm White & Case LLP has advised Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş., Turkey’s largest real estate investment company, on its secondary public offering raising total gross proceeds of US$1.6 billion.
The offering values the company at US$4.65 billion and it was led by Merrill Lynch International, as the global coordinator, and Halk Yatırım Menkul Değerler A.Ş., as the domestic bookrunner. In addition to being the largest ever primary equity offering in Turkey, it is the largest European real estate equity offering in the last five years and the largest of the year in the Central and Eastern Europe, Middle East and Africa regions.
"We advised Emlak Konut on its initial public offering in 2010 and are very pleased to see that the Turkish real estate market attracts international interest," said White & Case partner Meltem Akol.
Partner Mikko Hulkko added: "This transaction allowed us to highlight our strong expertise in Turkish capital markets and real estate work combined with our international capital markets team."
The White & Case team was led by partners Meltem Akol (Istanbul) and Mikko Hulkko (Helsinki) and supported by associates Benjamin Tuiskula (Helsinki) and Derin Altan (London), Serra Sepkin (Istanbul), Ayça Yılmaz (Istanbul) and Jenni Nygard (Helsinki).
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