Turgut Cankorel

Turgut Cankorel

International Partner*
+90 (212) 386-1323
Büyükdere Cad. No: 191
Apa Giz Plaza, Kat: 17
34330 Levent, İstanbul
  • Overview
  • Experience
  • Credentials
  • Insight

Turgut Cankorel's practice focuses on cross-border corporate transactions. His experience includes representing clients in public and private mergers, acquisitions and divestitures, public offerings and private placements of debt and equity securities, going private transactions, tender offers, minority investments, and joint ventures. His sector focus has been on the energy, private equity and telecom sectors, predominantly in the Turkish, Middle East and North Africa, and US markets.

*Chadbourne & Parke International, LLP, an affiliate of Chadbourne & Parke Danismanlik Hizmetleri Avukatlik Ortakligi A.S.

Publication Highlights

M&A and Private Equity

  • Represented Swicorp Company, an international private equity and asset management firm focused on the Middle East, Africa and Turkey, in the acquisition by its affiliate Sadeed Investment Limited (LLC) of a 30% equity stake in Saudi steel manufacturer BRC Industrial (Saudia) Limited.
  • Represented the International Finance Corporation (IFC) in connection with a €2 million indirect equity investment and a TRY 20 million corporate loan to Turkish software developer Logo Yazılım A.Ş. Financing partners included Mediterra Capital Partners, a closed-end private equity fund into which IFC invested in 2012, through EAS Solutions S.à.r.l.
  • Represented GLG Partners, Inc., a NYSE-listed global asset manager, in its $1.6 billion going-private acquisition by U.K.-based Man Group plc, a LSE-listed hedge fund, through a concurrent merger and stock exchange transaction. The transaction was reported to be the largest ever cross-border merger between two publicly traded independent hedge funds, and it was honored as the "Largest Transaction of the Year" by The Hedge Fund Journal in 2010.
  • Represented Iberdrola USA, Inc. in the sale of three natural gas utilities in Connecticut and Massachusetts to UIL Holdings Corporation, a company publicly traded on the New York Stock Exchange, for cash consideration of over $917 million.
  • Represented Koç Holding A.Ş. in the sale of its majority stake in Migros Türk A.Ş., after an auction process, to a consortium led by the private equity firm BC Partners for the equivalent of $1.66 billion, the largest private equity transaction in Turkey to date. Migros is the largest retailer in Turkey with over 14,800 employees and 900 stores.
  • Represented First Wind Holdings, LLC in its joint venture agreement with Emera Inc. and Algonquin Power and Utilities Corp. to construct, own and operate wind energy projects in the Northeast U.S. Emera/Algonquin will invest $333 million for a 49% stake in the joint venture company.
  • Represented the Barclays Natural Resource Investments (BNRI) division of Barclays Capital in connection with its private equity investment in K Road Power, an independent power developer focused on utility-scale solar projects in the Southwest United States.
  • Represented a solar project development company in the sale of a utility-scale solar development project to a major international solar company.
  • Represented GLG Partners, a leading alternative asset manager, in its $3.4 billion transaction to access public markets through a reverse acquisition with Freedom Acquisition Holdings, Inc. The transaction was honored as "2008 Deal of the Year" by The Hedge Fund Journal.
  • Represented four lenders in the senior secured debt financing of about US$140 million for Maple Energy Plc's greenfield ethanol project in Peru. The four lenders were the IDB, CAF, FMO and Banco Internacional del Perú S.A.A. The transaction was honored as the "2010 Latin America Biofuels Deal of the Year" by Project Finance magazine.  
  • Represented Dubai International Capital in its $200 million investment in Oger Telecom, which is a leading provider of telecommunications services operating fixed-line, mobile communications and Internet access businesses in Turkey, South Africa, the Kingdom of Saudi Arabia, Lebanon and Jordan.
  • Represented global power company in its partially seller-financed disposition of a palm oil energy project in West Africa.
  • Represented Pennsylvania-based EnerTech Capital Partners in connection with its venture capital investment in Tangent Energy Solutions, Inc., a Pennsylvania-based renewable energy company.
  • Represented the Emerging Capital Partners MENA Growth Fund LLC, a private equity fund based in Washington, DC, in a proposed acquisition in Turkey.
  • Represented AES Entek, a joint venture between Koç Holding A.Ş. and AES Corporation, in the proposed acquisition of a power generation company in Turkey.
  • Represented Denham Capital in its proposed investment in certain Turkish assets.
  • Represented a major multinational media corporation in its preliminary bid to acquire certain assets of the Turkish Çukurova Group.
  • Represented buyers in joint venture with a major U.S. private equity group in connection with the proposed acquisition of a solid fuel-fired cogeneration plant in Kansas.

Capital Markets

  • Represented the Privatization Administration of the Republic of Turkey in its sale of a 23.9% stake in Türkiye Halk Bankası A.Ş. via a secondary public offering including a Rule 144A/Regulation S global equity offering. The transaction was the largest capital markets offering of a Turkish issuer to date, with proceeds exceeding $2.5 billion.
  • Represented GLG Partners, Inc. in connection with its 144A/Regulation S offering of $228.5 million convertible subordinated notes and the concurrent acquisition of certain indebtedness under existing credit facility.
  • Represented major Turkish company in its proposed establishment of a Level I ADR (American Depositary Receipts Program) in the United States.
  • Represented NPS Pharmaceuticals, Inc., a biopharmaceutical company traded publicly on the Nasdaq Global Market, in connection with its tender offer to purchase approximately $171 million of its outstanding convertible debt securities.
  • Represented Conexant Systems, Inc., a communications semiconductor company traded publicly on the Nasdaq Global Select Market, in connection with its 144A/Regulation S offering of $275 million floating rate senior secured debt securities and subsequent exchange offer.
  • Represented Meritor, Inc., a global supplier of integrated automotive systems traded publicly on the New York Stock Exchange, in connection with its 144A/Regulation S offering of $200 million convertible senior debt and subsequent shelf registration.
  • Represented former CEO and chairman and a group of founding stockholders in a proxy contest to elect the board of directors of MMC Energy, Inc., an energy company traded publicly on the Nasdaq Global Market.
  • Advised CA, Inc., a computer software company traded publicly on the New York Stock Exchange, on its periodic Exchange Act reporting obligations.


  • Named as "New York Rising Star" in Super Lawyers 2011, Metro New York Edition
  • Received "Preeminent" peer rating for M&A work by Martindale-Hubbell in 2012

Activities and affiliations

  • Board Member, International Law Institute-Turkey.
  • Member, Corporate Governance Association of Turkey.
  • Led legal research and writing workshops at the Georgetown University Law Center for two years.

Professional background

  • Economist, Baker Donelson Bearman Caldwell & Berkowitz, 2001-2003



International Project Finance Workshop
Koç University
Chinese Investment Opportunities in Turkey
China International Chamber of Commerce for the Private Sector
Comparative Criminal Procedure Systems
Global Relations Forum