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KST Law and Kinstellar assist Honeywell on the sale of its Personal Protective Equipment business to Protective Industrial Products for USD 1.325 billion
KST Law (Kinstellar) is delighted to have advised Honeywell on the Turkish law aspects in connection with its sale of its Personal Protective Equipment (“PPE”) business to Protective Industrial Products ("PIP") for USD 1.325 billion, an all-cash transaction. PIP is a global supplier and manufacturer of PPE products and a portfolio company of Odyssey Investment Partners and this strategic move is reinforcing PIP’s global positioning in the PPE market. Congratulations to our team led by Partners Emre Özer and Mert Elçin, with key involvement from Senior Associate Sıla Şaylı and Associates Helin Akbulut and Tuğberk Çakırca, for their outstanding efforts and dedication. Our colleagues Partner Viliam
KST Law and Kinstellar represent Eleven Fund III Cooperatief in its investment in Bitloops
KST Law (Kinstellar) is proud to have advised Eleven Fund III Cooperatief in its equity investment in Bitloops, a software development company with subsidiaries in Greece and Cyprus. Bitloops is an AI-powered front-end companion in VS Code that transforms designs into high-quality, maintainable codes. The investment round was led by Eleven Ventures with participation from Corallia Ventures and several angel investors. This funding will help Bitloops improve how teams turn Figma designs into high-quality, scalable, and maintainable code while maintaining engineering standards. Special thanks to the KST Law/Kinstellar team led by Partner Emre Özer, including Associates Helin Akbulut and Tuğberk Çakırca
KST Law and Kinstellar assist Allison Transmission Holdings to acquire the Off-Highway business of Dana Incorporated for approximately US$2.7 billion
KST Law (Kinstellar) is proud to have advised Allison Transmission Holdings on Turkish and Hungarian law aspects in connection with its entry into a definitive agreement to acquire the Off-Highway business of Dana Incorporated, a global leader in propulsion and energy-management solutions for vehicles and machinery across all mobility markets, for approximately US$2.7 billion. Special thanks to the KST Law (Kinstellar) team in Istanbul led by Partner Emre Özer, including Associates Helin Akbulut, Nihal Dilan Cantürk and Tuğberk Çakırca, for their invaluable contribution in making this transaction a success. Kinstellar's team in Budapest consisting of Partner Gábor Gelencsér, Counsel Mónika Frank, Senior Associate
Public M&A transactions in Turkey
Since 2021 there has been a significant surge in IPOs on the Istanbul stock exchange, with 195 listings to date—nearly six times the number of listings during the entire 2015–2021 period. There are now 585 public companies in Turkey with a stock exchange listing. Inevitably, as acquirors seek to consolidate or expand their businesses through M&As, there will be an increase in public M&A transactions. Public M&A deals require an additional toolkit of experience, as in particular, to protect the interests of minority public shareholders, acquisitions of listed companies are subject to further regulation under the Capital Markets Law (the “CML”). This article focuses on three key areas regarding public company
Marka İptal Talebine İlişkin Beklenen Yönetmelik Yayımlandı!
Mart 2025 – 6769 sayılı Sınai Mülkiyet Kanunu (“SMK”) uyarınca marka iptal taleplerinde daha önce mahkemelerde olan yetki, 10 Ocak 2024 tarihinden itibaren Türk Patent ve Marka Kurumuna (“TPMK”) geçmişti. Bu değişikliğin ardından marka iptal taleplerinde izlenecek usule ilişkin belirsizlik söz konusuydu ve yapılan başvurular uzun bir süre askıda kalmıştı. 15 Mart 2025 tarihli Resmî Gazete’de yayımlanan Sinai Mülkiyet Kanununun Uygulanmasına Dair Yönetmelikte Değişiklik Yapılmasına İlişkin Yönetmelik (“Değişiklik Yönetmeliği”) ile marka iptal taleplerinde izlenecek usul açıklığa kavuşturulmuştur. Değişiklik Yönetmeliği ile netliğe kavuşan konuları sizler için bu yazımızda
Key insights from the Turkish Competition Authority Report
The Turkish Competition Authority’s (“TCA”) 2024 Mergers & Acquisitions Overview Report is published and it highlights a record-breaking year. The TCA reviewed 311 deals in 2024, the highest of the past twelve years (2013-2024). Click on the image below or use the following link to read our summary of the Report’s key takeaways in English. If you have any questions or inquiries, please feel free to contact the authors, Sinan Diniz and Simru Tayfun.
KST Law and Kinstellar assisted Felix and Balderton in their investment in Agave Games
KST Law (Kinstellar) is excited to have assisted Felix and Balderton in their investment in Agave Games, the creators of Find My Cat, securing a significant EUR 18 million Series A funding round. This investment highlights the growing potential of the gaming sector and underscores Agave Games' innovative approach to mobile gaming. We worked in close collaboration with Mariott Harrison, led by partner David Strong and trainee solicitor Zeki Turgut. It has been a pleasure working alongside Felix and Balderton on this important milestone. A special thanks to the KST Law team—our partner Emre Özer and associates Sıla Şaylı and Hatice Nur Arslan—for their invaluable contribution in making this transaction a
New Communiqué on Commercial E-Message Management Integrators in Turkey
On 18 September 2024, Turkey’s Ministry of Trade published in the Official Gazette the Communiqué on Commercial Electronic Message Management System Integrators ("Communiqué"). The Communiqué introduces new procedures relating to the registration and management of consent for commercial electronic messages in Turkey’s Message Managing System (“MMS”)—a national database where various e-communications approvals are stored and managed. Among the changes introduced, the Communiqué defines business partners that assist service providers with registering approvals in the MMS, approval tracking, and management processes as “Integrators” and authorisation is required for service provision. The Communiqué also
Ticari Elektronik İleti Yönetim Sistemi Entegratörleri Hakkında Tebliğ
Ekim 2024 – Ticaret Bakanlığı tarafından 18 Eylül 2024 tarihli Resmî Gazete ile Ticari Elektronik İleti Yönetim Sistemi Entegratörleri Hakkında Tebliğ (“Tebliğ”) yayınlanarak yürürlüğe girdi. Tebliğ ile uygulamada hizmet sağlayıcıların onaylarının İleti Yönetim Sistemi’ne (“İYS”) kaydı, onay takibi ve yönetimi süreçleri için destek aldıkları iş ortakları; bu Tebliğ kapsamında “Entegratör” olarak tanımlanarak hizmet sunumu için yetkilendirme şartı getirildi. Ayrıca, Tebliğ uyarınca 2025 Mart ayına kadar Ticaret Bakanlığından entegratörlük yetkisi almayanların hizmet sağlayıcı adına ticari elektronik iletilere ilişkin işlem tesis etmesi yasaklandı. Tebliğ’deki
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.
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.