Baker & McKenzie (Gaikokuho Joint Enterprise) in Tokyo and Esin Attorney Partnership (Istanbul), the Turkish member firm of Baker & McKenzie International, have advised Japan-based Marubeni Corporation on the acquisition of a 49 percent stake in Temsa Is Makinalari Imalat Pazarlama ve Satis A.S. (Temsa Is Makinalari), a Turkish distributor of Komatsu construction equipment, from TEMSA GLOBAL Sanayi ve Ticaret A.S. (TEMSA GLOBAL). The deal was signed on 5 March 2014 and closed on 28 April 2014.
The multijurisdictional Baker & McKenzie team was led by Istanbul-based M&A partners Ismail Esin and Asli Yigit, of counsel Mina Arai-Ito (Tokyo) and supported by associates Sitki Can Tulay (Istanbul), Beelian Tay (Tokyo), Seiji Tomimoto (Tokyo) and Masahiro Inaba (Tokyo).
"This acquisition marks an important step in the partnership between Marubeni and Temsa Is Makinalari. With the contribution of Marubeni, Temsa Is Makinalari will strengthen its leading position in Turkey," Istanbul-based M&A partner Asli Yigit commented.
"Turkey is becoming an increasingly important and popular investment destination for Japanese investors, mainly for its strong domestic market and its position as a hub for the wider region. Marubeni's acquisition is a symbolic deal, which will further strengthen ties between Turkey and Japan," Tokyo-based Middle East and Africa Focus Group head Mina Arai-Ito added.
Founded in 1858, Marubeni Corporation is one of the largest trading companies in Japan, with a presence in 65 countries through its overseas branches and subsidiaries. Marubeni currently operates the business of distributing Komatsu construction equipment in the UK, Philippines, Vietnam, Russia and Mexico. Together with the credibility of Sabanci Group, Marubeni will leverage its experience and knowledge in this business field to further strengthen and expand Temsa Is Makinalari's construction equipment distribution business.
Temsa Is Makinalari is a subsidiary of the Sabanci Group, one of Turkey's leading industrial and financial conglomerates.
