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Kinstellar and KST Law advise Quexco Incorporated on its acquisition of Mutlu Akü
Kinstellar and KST Law are delighted to have advised Quexco Incorporated, a US-based diversified, private holding company with investments in the lubricants space and a rich history, previously operating in the battery industry, on its acquisition of Mutlu Akü, one of the major auto battery manufacturers in Türkiye, and owner of a waste battery recycling facility, from Metair International Holdings Coöperatief U.A. (a member of Metair Group, a South African listed company). The team was led by Partner Emre Özer, supported by Senior Associate Şeyma Olğun, and Associate Sıla Şaylı. Kinstellar worked in close collaboration with Bowmans, as to South African law, throughout the transaction. Completion of
Kinstellar and KST Law advise Eleven Fund III Cooperatief on its investment in Magfi, Turkey
Kinstellar and KST Law are delighted to have advised Eleven Fund III Cooperatief, a multi-strategy growth fund, on its US$1.1 million in seed investment in Magfi, a SaaS platform based in Istanbul. Magfi enables seamless advertising across Telegram and Discord communities using machine learning and AI. The investment will support Magfi's planned expansion into the Brazilian market. Kinstellar operates in Turkey in cooperation with KST LAW, a full-service corporate law firm based in Istanbul.
Quick Read: Competition Law Updates in Turkey – August 2024
This issue of Quick Read provides an overview of the Turkish Competition Authority’s (“TCA”) decisions and announcements and other developments in Turkish competition law during August 2024. Dive into August updates 1. Settlement on no-poaching in the pharmaceutical labour market The TCA concluded its investigation into pharmaceutical companies Bilim İlaç and Drogsan İlaç regarding allegations of anti-competitive no-poaching agreements with their competitors to avoid hiring each other's employees in the labour market with a settlement. As part of the settlement, Bilim İlaç was fined TRY 155,488,332.29 (approximately USD 4.58 million), while Drogsan Pharmaceuticals was fined TRY 30,593,234.79 (approximately
Quick Read: Data Protection Law Updates in Turkey – August 2024
In August, the Turkish Data Protection Authority (“DPA”) focused on several key issues including updates on personal data processing, the release of translated by-laws and standard contract clauses, the announcement of an intergovernmental partnership, and details of two data breach notifications. Quick reminder: Cross-border data transferring rules effective from 1 September! As of 1 September 2024, data controllers must comply with the new rules on cross-border data transfers introduced by the amendments to the Turkish Data Protection Law (“DP Law”) on 12 March 2024. Importantly, data controllers will no longer be allowed to rely on explicit consent for ongoing cross-border data transfers. You can
Quick Read: Data Protection Law Updates in Turkey – July 2024
The agenda of Turkish Personal Data Protection Authority (“DPA”) for July included the anticipated regulation on the transfer of personal data abroad and the implementation of new standard contract clauses. Also in July, the DPA published the second issue of its KVKK Journal and the fourth edition of its Bulletin. Dive into July updates 1. Regulation on cross-border personal data transfer is published Following the recent amendments to the Turkish Personal Data Protection Law (“DP Law”), the DPA published the "Regulation on the Procedures and Principles Regarding the Transfer of Personal Data Abroad" on 10 July 2024. This regulation is a significant component of the changes to the DP Law. Key aspects
Quick Read: Competition Law Updates in Turkey – July 2024
This issue of Quick Read provides an overview of the Turkish Competition Authority’s (“TCA”) decisions, announcements, and developments in competition law for July 2024. Dive into July updates 1. Double impact: Investigations in the glass recycling market The TCA has intensified its scrutiny of glass manufacturer Şişecam and its subsidiary, Şişecam Çevre Sistemler, for potentially hindering competitors in the glass recycling sector. After a preliminary investigation in 2021, Şişecam offered commitments to the TCA. In 2024, a follow-up inspection led the TCA to launch a full-fledged investigation into compliance with these commitments. In addition, the TCA initiated a separate, full-fledged
Legal Intern
Are you passionate about the legal field and eager to gain hands-on experience? We have an exciting opportunity for a motivated Legal Intern to join our team! Abou t us: At KST Law, we pride ourselves on our commitment to excellence and our dedication to providing top-notch legal services. As a leading international law firm, we believe in nurturing talent and fostering growth within our team. This internship is designed to provide valuable exposure to various aspects of legal practices and help you develop the skills needed for a successful legal career. Responsibilities: Assist with legal research and analysis; Draft and review legal documents and contracts; Support
Junior Associate, Corporate M&A
Are you passionate about the legal field and eager to advance your career? We have an exciting opportunity for a dynamic and motivated Junior Associate to join our talented M&A, Corporate team! Abou t us: At KST Law, we pride ourselves on our commitment to excellence and our dedication to providing top-notch legal services. As a leading international law firm, we believe in nurturing talent and fostering growth within our team. This position is designed to provide valuable exposure to various aspects of M&A and corporate and help you develop the skills needed for a successful legal career. Responsibilities: Assist with legal research and analysis specifically for M&A
KST Law and Kinstellar advise Grupo Antolin on the sale of a stake in the Turkish joint venture Ototrim
KST Law / Kinstellar are proud to have advised Grupo Antolin, a leading global car interior manufacturer, on the sale of 45% stake in the Turkish joint venture Ototrim to its JV partner Diniz Holding. Following this transaction, Antolin will retain a 5% stake in the joint venture and continue its collaboration with Diniz Holding. The transaction is pending approval from the Turkish Competition Authority. Our team was led by Partner Mert Elçin, with support from Associates Sila Özge Sayli and Osman Tugberk Çakirca.
Turkey's Crypto Law now in effect: Key updates and compliance requirements
On 2 July 2024, Turkey enacted new provisions to its Capital Markets Law to regulate crypto assets (“Crypto Law”). These provisions, published in the Official Gazette, grant the Capital Markets Board of Turkey ("CMB") the authority to supervise crypto asset service providers ("Service Providers"). What do the new provisions cover? The primary focus of the Crypto Law is to regulate the following key areas: defining the core concepts, such as crypto assets, wallets, platforms and Service Providers; outlining the obligations and principles for Service Providers; defining the rules for transactions conducted with customers; establishing principles for the transfer and storage of
Quick Read: Competition Law Updates in Turkey – June 2024
Agenda of the Turkish Competition Authority in June This issue of Quick Read summarises the decisions, announcements and important competition law events published by the Turkish Competition Authority (“TCA”) in June 2024. Dive into June updates Under the lens: TCA scrutinises Apple's App Store payment policies In early June, the TCA launched an investigation into technology major Apple, focusing on whether their App Store practices violate Turkish Competition Law. Key concerns include Apple's policies that prohibit developers from using alternative payment methods in the App Store and enforcement of anti-steering measures aimed at mobile application developers. These actions are under scrutiny to determine if
Quick Read: Data Protection Law Updates in Turkey – June 2024
Overall: Agenda of the DPA in June The agenda of the Turkish Data Protection Authority (“DPA”) was relatively quiet in June. However, preparations are underway for upcoming regulations and standard contractual clauses related to cross-border data flows. A significant change is approaching for data processing activities involving cross-border data transfers based on explicit consent. From 1 September 2024, data controllers will no longer be allowed to continuously transfer personal data abroad solely relying on explicit consent. The new process for the transfer of personal data abroad requires a three-step assessment, where data controllers must review their international data transfer activities, including the recipients