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KST Law (in cooperation with Kinstellar) assists on the Turkish law aspects of Unifonic’s acquisition of Segmentify
KST Law (in cooperation with Kinstellar) is pleased to have worked with lead counsel, Orrick, Herrington & Sutcliffe, on the Turkish law aspects of Unifonic’s acquisition of the entire issued share capital of Segmentify UK Holding Company Limited, and its subsidiary Segmentify Yazılım, an AI-driven personalisation and customer engagement SaaS platform. With its acquisition of Segmentify, Unifonic further expands its AI capabilities and strengthens its customer engagement offering. The transaction supports the company’s strategy of combining communication, customer intelligence and personalisation technologies to deliver more integrated and data-driven digital experiences. As part of Unifonic, Segmentify
KST Law (in cooperation Kinstellar) advises on new partnership of Monopoli Sigorta with Acrisure
KST Law (in cooperation Kinstellar) advised the shareholders of Monopoli Sigorta on the acquisition by Acrisure of Monopoli Sigorta. Monopoli Sigorta Aracılık Hizmetleri, a leading independent insurance intermediary in Turkey, offering insurance solutions for individuals and corporations, has partnered with Acrisure, the global insurance services platform. As part of this partnership, Monopoli Sigorta will integrate into Acrisure’s global platform, continuing under its current brand and the same leadership team. The transaction marks Acrisure’s first move into the Turkish insurance market. The KST Law (in cooperation with Kinstellar) team advising on the transaction was led by Partner Edmund Emre Özer
KST Law and Kinstellar assist Simmons & Simmons on Wise Equity’s acquisition of a majority stake in Marullo
KST Law and Kinstellar have assisted Simmons & Simmons on Turkish law aspects related to the acquisition by Wise Equity, the Milan-based private equity firm, of a majority stake in Marullo. Marullo is recognized as a leader in pistachio products (including semi-finished and finished goods) based in Bronte, Sicily. The deal is designed to support the international growth and expansion of Marullo, strengthening its raw material procurement, and enhancing its position in the high-quality ingredient market. Marullo has a pistachio sourcing and initial processing subsidiary in Turkey. Partner Emre Edmund Özer, Senior Associate Sıla Şaylı and Associate Fırat Erin formed the core team advising the client on the
KST Law and Kinstellar assist Osborne Clarke and Lowenstein Sandler on the Turkish law aspects of Jennmar Holdings and Falconpoint Capital Partners' acquisition of Weber Mining & Tunnelling
KST Law and Kinstellar are pleased to have advised Osborne Clarke and Lowenstein Sandler on the Turkish law aspects of Jennmar Holdings and Falconpoint Capital Partners' acquisition of Weber Mining & Tunnelling, a significant cross-border transaction that expands the global footprint of the Jennmar platform. Weber Mining & Tunnelling is a specialized manufacturer of advanced resins and foams for strata stabilization, roof support, and ground consolidation in the mining and tunnelling sectors. With more than 60 years of experience and a strong focus on research and development, Weber serves an international customer base and maintains manufacturing facilities in France and Poland, as well as sales and distribution
KST Law (in cooperation with Kinstellar) assists Linklaters on Fareva’s acquisition of majority stake in Sanofi’s Lüleburgaz manufacturing facility
KST Law (in cooperation with Kinstellar) has advised Fareva, a world leader in industrial subcontracting for the pharmaceuticals, cosmetics, and industrial & household sectors, on Turkish law aspects of its entry into a share purchase agreement with Sanofi to acquire a 70% stake in the company operating Sanofi’s pharmaceutical manufacturing facility in Lüleburgaz, Turkey. Sanofi will retain a 30% minority stake in the company. Completion of the transaction is subject to customary regulatory approvals, including clearance from the Turkish Competition Authority. The KST Law team worked in close cooperation with lead transaction counsel to Fareva, Linklaters, on the transaction. The KST Law (in cooperation
İşletmenin Muhasebesiyle İlgili Olmayan Ticari Defterlerin Elektronik Ortamda Tutulması Hakkında Tebliğ
Aralık 2025 – 14 Şubat 2025 tarihli ve 32813 sayılı Resmi Gazete’de yayımlanan İşletmenin Muhasebesiyle İlgili Olmayan Ticari Defterlerin Elektronik Ortamda Tutulması Hakkında Tebliğ’in (“Tebliğ”) 5. maddesinin birinci fıkrasının (a) bendi uyarınca 1 Ocak 2026 tarihinden itibaren ticaret siciline tescil edilecek şirketlerin pay defteri ile genel kurul toplantı ve müzakere defterlerini elektronik ortamda tutmakla yükümlüdür. Tebliğ hükümleri uyarınca genel kurul toplantı ve müzakere defteri ile pay defterini elektronik ortamda tutma yükümlülüğü kapsamında olan ve kuruluşu ve esas sözleşme değişikliği Ticaret Bakanlığı’nın iznine tabi olan şirketlerin Elektronik Ticari Defter Sistemine
Communique on the Electronic Maintenance of Commercial Books Not Related to Business Accounting
Pursuant to article 5(1)(a) of the Communique on the Electronic Maintenance of Commercial Books Not Related to Business Accounting (“Communique”), published in the Official Gazette dated 14 February 2025 and numbered 32813, companies to be registered to the trade registry on or after 1 January 2026 are required to keep their share ledgers and shareholders’ resolution book in electronic format. The deadline for companies whose establishment and amendment of articles of association are subject to the approval of the Ministry of Trade, to transition to the Electronic Commercial Ledger System (“ETDS”) for the obligation to keep the share ledger and shareholders’ resolution book electronically is 1 January 2026.
Amendments Related to the Communique on Article 376 of the Turkish Commercial Code
On 10 December 2025, the Communiqué Amending the Ministry of Trade’s Communique on the Procedures and Principles of the Implementation of Article 376 of the Turkish Commercial Code (Law No. 6102) (“TCC”) (“Communique”) was published in the Official Gazette. With this amendment, the effective period of Provisional Article 1 has been extended for an additional year, and its application date has been revised from 1 January 2026 to 1 January 2027. Provisional Article 1 of the Communiqué (“Provisional Article”) currently provides a temporary exemption until 1 January 2026, under which the following may be disregarded when calculating capital loss or insolvency positions under Article 376 of the TCC: (i) all
Türk Ticaret Kanunu 376’ncı Maddesine İlişkin Tebliğ’de Değişiklikler
Aralık 2025 – 10 Aralık 2025 tarihinde Resmî Gazete’de yayımlanan 6102 sayılı Türk Ticaret Kanunu (“TTK”) 376’ncı Maddesinin Uygulanmasına İlişkin Usul ve Esaslar Hakkında Ticaret Bakanlığı Tebliği’nde (“Tebliğ”) Değişiklik Yapılmasına Dair Tebliğ ile, Tebliğ’in geçici birinci maddesinin uygulanış süresi bir yıl daha uzatılmış ve geçerlilik tarihi 01.01.2026’dan 01.01.2027 tarihine uzatılmıştır. Tebliğ’i n geçici birinci maddesi (“Geçici Madde”), 1 Ocak 2026 tarihine kadar geçerli olmak üzere, (i) henüz ifa edilmemiş yabancı para yükümlülüklerinden doğan tüm kur farkı zararlarının ve (ii) 2020 ve 2021 yıllarında tahakkuk eden amortisman giderleri, personel
Turkish Constitutional Court’s Significant Decision on Statutory Interest Rate
On 1 December 2025, the Turkish Constitutional Court published its decision dated 22 July 2025 (“Decision”) in the Official Gazette annulling the statutory interest rate stipulated under Article 1 of the Law on Legal Interest and Default Interest (“Law No. 3095”). The Constitutional Court ruled that the statutory interest rate fails to protect creditors, violates the constitutional right to property, and must be annulled with respect to non-contractual obligations. Below you can find our summary of the Decision. Previous practice Under Article 1 of Law No. 3095, if interest was payable under the Turkish Code of Obligations or the Turkish Commercial Code and the rate was not contractually agreed
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