Turker Global Madencilik Secures USD 55 Million Gold Mine Acquisition in Bulgaria
Deal News | Mar 10, 2025 | CEE Legal Matters
Turker Global Madencilik, a subsidiary of Turkerler Holding, has acquired a gold mine development project in Bulgaria for USD 55 million. The acquisition was made through a share purchase and option agreement with Toronto-listed Velocity Minerals and its joint venture partner, Gorubso Kardzhali. Legal advice was provided to Turker Global Madencilik by Linklaters and Ergun, with Lotz & Company reportedly advising the sellers. This transaction highlights the continuing interest in the Eastern European mining sector and marks a significant business move for Turker Global Madencilik as it expands its mining portfolio.
Sectors
- Mining and Metals
- Legal Advisory
Geography
- Bulgaria – The location of the gold mine development project and the site of the acquisition.
- Canada – Velocity Minerals, one of the selling entities, is listed in Toronto, Canada, indicating Canadian involvement in the transaction.
Industry
- Mining and Metals – The acquisition of a gold mine development project directly ties the article to the Mining and Metals industry, highlighting activities related to mineral extraction and investment.
- Legal Advisory – The involvement of law firms such as Linklaters, Ergun, and Lotz & Company indicates the Legal Advisory industry, showcasing the role of legal guidance in M&A transactions.
Financials
- USD 55 Million – The purchase price for the acquisition of the gold mine development project in Bulgaria.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Turker Global Madencilik | Target Company | Company | A subsidiary of Turkerler Holding focused on mining acquisitions. |
| Turkerler Holding | Parent Company | Company | The parent company of Turker Global Madencilik, engaged in diverse sectors including construction and energy. |
| Velocity Minerals | Selling Company | Company | A Toronto-listed company involved in mineral exploration and one of the sellers in the transaction. |
| Gorubso Kardzhali | Selling Company | Company | Joint venture partner with Velocity Minerals and co-seller of the Bulgarian gold mine project. |
| Linklaters | Legal Advisor to Turker Global Madencilik | Company | An international law firm providing legal advice and services for the acquisition. |
| Ergun | Legal Advisor to Turker Global Madencilik | Company | A law firm collaborating with Linklaters to advise Turker Global Madencilik on the acquisition. |
| Lotz & Company | Legal Advisor to Sellers | Company | Reportedly advised the selling parties, Velocity Minerals and Gorubso Kardzhali. |