We are pleased to announce that Çakmak Attorney Partnership has advised IFC – International Finance Corporation and Proparco as Turkish counsel in connection with their proposed equity investment in Uluğ Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş. (Uludağ Enerji), a leading electricity distribution and retail company in northwestern Türkiye, majority-owned by Actis. Uludağ Enerji is the sole shareholder of Uludağ Elektrik Dağıtım A.Ş. and Uludağ Perakende Elektrik Satış A.Ş., which carry out electricity distribution and retail supply operations respectively across the provinces of Bursa, Balıkesir, Çanakkale, and Yalova.
The investment will support Uludağ Enerji’s program to upgrade and expand the electricity network serving the south Marmara region, one of Türkiye’s leading industrial centers.
Çakmak acted alongside Hunton Andrews Kurth LLP. The Çakmak team was led by Gülşen Engin, and the core team included Başak Armağan.
Completion of the transaction is subject to customary regulatory approvals.
