Edwards Wildman’s Istanbul office has advised the Privatization Administration, together with Burgan Yatirim Menkul Degerler A.S.and Mag Muhendislik Hizmetleri Ltd, in relation to the privatization project of the sole cruise port of İstanbul, Salıpazarı Port. The port is owned by Turkiye Denizcilik Isletmeleri A.S., as a result of the transfer of operating rights for 30 years. The privatization work started in 2010 and concluded with an auction in May 2013. Dogus Holding A.S. submitted the highest bid of US$702 million.
Following the tender, the necessary permissions have been obtained from the administrative authorities and the port has been transferred to Dogus Holding A.S., who signed the agreement on transfer of operating right on 14 February 2014.
Edwards Wildman’s Istanbul office provided advice in relation to the tender preparation process, the preparation of the agreement and its negotiations. The team was led by Tolga Ismen and Arzum Gunalcin.
