White & Case Advises QIA on US$200 Million Acquisition of Borsa Istanbul Stake

Global law firm White & Case LLP has advised the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, on its US$200 million acquisition of a ten percent stake in Borsa İstanbul A.Ş., the primary stock exchange operator in Turkey, from the Turkey Wealth Fund (TWF), the sovereign wealth fund of the Republic of Turkey. 

"We have advised long-standing client QIA on this important strategic deal between the State of Qatar and the Republic of Turkey," said White & Case partner Emre Özşar, who co-led the Firm's deal team.  

White & Case partner Ashley Ballard, who co-led the Firm's deal team, said: "This is the second high profile transaction we have advised on involving TWF, having represented Cukurova on the sale of its stake in Turkcell, the Turkish mobile phone provider, to TWF earlier in the year."

The deal was signed and completed on the 30 November 2020.

The White & Case team which advised on the transaction was led by partners Emre Özşar (Istanbul) and Ashley Ballard (London), with support from partner Amanda Cowell (London), local partner Derin Altan (Istanbul), consultant Hakan Eraslan (Istanbul), advisor Sezin Elcin Cengiz (Istanbul) and associates Can Tolga Tezel, Gökçen Durgut, Selin Kaledelen, Damla Cay and Secil Bilgic (all Istanbul), and Richard Wilson, Raif Hassan and William Obree (all London). 

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