Global law firm White & Case LLP has advised International Finance Corporation (IFC) on its acquisition of a 2.65 percent stake in Borsa Istanbul-listed Soda Sanayii A.Ş.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. It is owned by 184 member countries and works in more than 100 developing countries.
Soda Sanayii, an affiliate of Turkey-based global glass and chemical producer Şişecam Group, is among the world's ten largest soda producers with facilities in Turkey, Bulgaria, Bosnia-Herzegovina and Italy. It is also the world's largest producer of sodium bichromate and basic chromium sulphate.
White & Case recently advised IFC and a group of other lenders on a series of seven solar power projects in Jordan. Istanbul-based White & Case partner Guniz Gokce, who co-led the team which advised IFC on its Soda Sanayii acquisition, said: "IFC's investment in Soda Sanayii is a further demonstration of its long term commitment to Turkey, which has been an IFC member since 1956 and is IFC's second largest client."
London-based partner Alan Burke, who co-led the White & Case team, said: "We were very pleased to support our client IFC on another investment, with a cross-border team in London and Istanbul that combined English law and Turkish law capabilities to help ensure the deal was completed successfully."
The White & Case team was led by partners Alan Burke (London) and Guniz Gokce (Istanbul) with support from associates Ozlem Dowling, Daniel Harrington-Greenwood (both London), Dilara Erik, Derin Altan and Ceylan Goknil (all Istanbul). The Firm's team worked in close cooperation with IFC's legal team, led by senior counsel Kaizer Karachiwala.
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