Turkish Privatization Administration Completes Marina Deal
Deal News | Feb 12, 2025 | CEE Legal Matters
Lexist has guided the Turkish Privatization Administration from the Ministry of Treasury & Finance in Turkiye through the privatization process of Fenerbahce Kalamis Marina, originally auctioned for USD 505 million. Following the highest bidder's withdrawal, the Administration selected and finalized a 40-year operational rights agreement with the second-highest bidder, Kalamis and Fenerbahce Marina Isletmeciligi, for USD 504 million. The consultation consortium, spearheaded by Kalkinma Yatirim Bankasi and involving the Development and Investment Bank of Turkiye, Lexist, and MGS Engineering, played a crucial role. The Lexist legal team was composed of Partner Mesut Kaya and Associate Feyza Abbasoglu.
Sectors
- Legal Services
- Banking
- Privatization
Geography
- Turkey – The privatization transaction and participants are centered in Turkey.
Industry
- Legal Services – Lexist provided legal advisory services for the privatization deal.
- Banking – Kalkinma Yatirim Bankasi and the Development and Investment Bank of Turkiye led the consultancy consortium.
- Privatization – The article discusses the transfer of operating rights for a state-owned marina.
Financials
- 504 million USD – Amount agreed upon for the 40-year transfer of operating rights.
- 505 million USD – Amount in the original tender which was not realized due to bidder withdrawal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Turkish Privatization Administration | Selling Company | Government | The governmental body responsible for the privatization process. |
| Kalamis and Fenerbahce Marina Isletmeciligi | Bidding Company | Company | The second highest bidder that received the operating rights for the marina. |
| Lexist | Legal Advisor | Company | Provided legal advisory services during the privatization process. |
| Kalkinma Yatirim Bankasi | Lead Consultant | Company | Led the consultancy consortium. |
| Development and Investment Bank of Turkiye | Consultant | Company | Part of the consultancy consortium. |
| MGS Engineering | Consultant | Company | Part of the consultancy consortium. |
| Mesut Kaya | Partner | Person | Partner at Lexist, involved in the deal. |
| Feyza Abbasoglu | Associate | Person | Associate at Lexist, involved in the deal. |