Chadbourne Opens Istanbul Office

Office to Expand Firm's Substantial Presence in Emerging Markets Practice to Focus on M&A, Capital Markets, Project Finance and Tax

September 6, 2011

The international law firm of Chadbourne & Parke LLP announced today that it has opened an office in Istanbul.

The Istanbul office expands the firm's substantial presence in emerging markets and will concentrate on mergers and acquisitions, private equity, capital markets, corporate finance, project finance, and tax. The attorneys also have significant experience in a variety of sectors in Turkey, including energy, infrastructure, healthcare and financial services.

"We are excited to build upon the firm's already strong reputation in Central and Eastern Europe, Russia and the Middle East by establishing an office in Istanbul," said Chadbourne Managing Partner Andrew Giaccia. "This on-the-ground presence in Turkey allows us to build upon and better support our important Turkey practice while providing us with a stronger forum from which to serve clients doing business in the region."

The office will be headed by Managing Partner Ayşe Yüksel, who has built and led the firm's Turkey/MENA corporate practice from its offices in London, New York and Dubai. She will be supported by Chadbourne attorneys transferring from the firm's offices in New York and Dubai. Chadbourne will also have tax advisory capabilities in Turkey through its tax partner Taylan Baykut. Chadbourne will be working closely with Çiğdemtekin Şahbaz Attorney Partnership, a local law firm, which will provide Turkish law advice to the firm's clients.

Chadbourne has been representing clients in Turkey and the MENA region for many years. "We decided to open the office as a result of increasing demand from our clients doing business in Turkey," said Ms. Yüksel. "We have had significant activity in the Turkish market, especially in M&A and private equity transactions."

Ms. Yüksel has advised local and multinational clients on a wide variety of transactions. She represented the Carlyle MENA Partners in their acquisition of a 40% stake in Medical Park Hospital Group, Turkey's second largest healthcare services company. Ms. Yüksel has also done significant work for Koç Holding A.Ş, one of the largest conglomerates in Turkey, including representing the company in the sale of its majority stake in Migros Türk T.A.Ş., after an auction process, to a consortium led by the private equity firm BC Partners, which was the largest private equity deal in Turkey to date.

Earlier this year, Ms. Yüksel was named to the American Lawyer's prestigious "45 Under 45" list of top global female attorneys. Ms. Yüksel was also ranked in the premier band of leading overseas counsel in Turkey for 2009, 2010 and 2011 and was ranked as the only Turkey "Regional Expert" in the category of Corporate/M&A: United States of America by Chambers Global: The World’s Leading Lawyers for Business.

Çiğdemtekin Şahbaz Attorney Partnership is led by Gamze Çiğdemtekin and Deniz Şahbaz. Ms. Çiğdemtekin was a partner at Kinstellar in Istanbul and, prior thereto, she was a local partner of White & Case in Istanbul. She also worked at White & Case in Ankara and Frankfurt. She has counseled clients on a wide range of corporate and project finance transactions, including mergers and acquisitions, private equity and large-scale privatizations.

Her experience includes advising H.Ö. Sabancı Holding A.Ş. and Verbund consortium on the $1.2 billion privatization and acquisition of an electricity distribution company from the Turkish government, as well as proposed acquisitions of other privatized electricity distribution companies. Ms. Çiğdemtekin, along with Mr. Baykut, represented Kohlberg Kravis Roberts & Co. in its $1.3 billion acquisition of maritime transportation company Un Ro-Ro İşletmeleri A.Ş. Ms. Çiğdemtekin, who was mentioned in the International Financial Law Review 1000 for her mergers and acquisitions work, is a member of the Istanbul Bar.

Ms. Şahbaz, a corporate attorney with vast experience in mergers and acquisitions, capital markets offerings and financings, was most recently a legal advisor at Koç Holding A.Ş. She has done extensive work within the banking, insurance, oil and gas, electricity and food retail sectors. Ms. Şahbaz worked for White & Case in Istanbul prior to joining Koç Holding. Her experience includes advising the Sabancı Group in the strategic alliance and sale of 20% of Akbank to Citigroup and in the merger of Ak Emeklilik A.Ş. with Aviva Hayat Emeklilik A.Ş., Turkish life insurance and pension companies previously owned by the Sabancı Group and Aviva plc, respectively. She is a member of the Istanbul Bar.

Mr. Baykut was most recently the head of the tax practice at Hergüner Bilgen Özeke and was previously a tax partner with White & Case in Istanbul. His practice focuses on corporate taxation, taxation of mergers and acquisitions, venture capital and private equity transactions; tax structuring; international taxation; tax disputes; and personal tax consulting. Mr. Baykut provided advice to GE Consumer Finance in its acquisition of 25.5 percent of the shares of T. Garanti Bankasi A.S., a publicly traded Turkish bank owned by the Dogus Group, for approximately $1.5 billion. Mr. Baykut has been ranked as a leading tax practitioner in the International Financial Law Review 1000. He is a member of the Tax Council advising the Ministry of Finance in Turkey.


Andrew A. Giaccia
Ayşe Yüksel

Practice Areas


Capital Markets

Mergers and Acquisitions

Project Finance






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