BAE Systems, a British multinational company providing some of the world’s most advanced, technology-led defence, aerospace and security solutions, has entered into a share purchase agreement with Turkish conglomerate Nurol Holding for the sale of its 49% stake in their joint venture Nurol BAE Systems, which operates in the aerospace and defence sector in Turkey. The transaction successfully closed on 21 November 2022, resulting in Nurol Holding taking over sole control of the company. BAE Systems remains a key supplier of the TF-X project with Turkish Aerospace and the parties have agreed to continue exploring joint opportunities in the Turkish aerospace sector.
Paksoy is pleased to announce that a team led by partner Stéphanie Beghe Sönmez, together with senior associate Zeynep Toma, associates Deniz Benli and Göksu Çetin, partner and head of tax & fiscal services Şansal Erbacıoğlu and senior tax specialist Canay Palak, acted as Turkish counsel to BAE Systems on this transaction.
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This is for information purposes; it is not legal advice. As laws and their interpretation may change, please consult Turkish legal counsel to confirm the current position and obtain advice tailored to your circumstances before making any decision or taking action in relation to your matter in Türkiye. All rights reserved.