Recent decades have seen a rigorous privatisation program in Turkey, with the state divesting ownership of a large number and range of state-owned enterprises and assets into private hands. Since the 1980s, Turkey has privatised significant banks, airlines, telecommunications, highways, bridges, ports, railways, lotteries, food, petrochemical and steel facilities, as well as energy distribution and generation assets. Recently, the privatisation spotlight has swung onto commodities, energy facilities and telecommunications.
Privatization and concession projects occur in a heavily regulated and highly scrutinised environment, with bureaucratic processes that require multi-dimensional legal support. Moroğlu Arseven’s strength in traditional deal structuring, administrative, constitutional and financial matters enable us to provide full legal assistance to clients involved in Turkish privatisation processes.
Moroğlu Arseven helps clients navigate the complex tender procedures associated with securing, financing and supporting privatisation projects. Clients include local as well as international entities, such as lenders, investors, contractors, subcontractors, operators and technical advisors.
Our firm supports clients to fully understand their rights and obligations, working closely with clients to ensure appropriate and efficient allocation of transaction risk, liabilities and revenue between the parties. Our support involves detailed due diligence exercises, as well as consideration and guidance on qualification, procedural issues, bid structuring, compliance, financing vehicles, guarantees and securities, environmental impacts, procurement regimes, tax structures and dispute resolution mechanisms, among other relevant factors.