ACG Acquisition Company (“ACG”), a special purpose acquisition company (SPAC) established and managed in the UK by a team of mining sector veterans, acquired 100% of the shareholding in Polimetal Madencilik Sanayi ve Ticaret A.Ş. (“Polimetal”), a mining company operating in Balıkesir owned by Lidya Madencilik, which is a subsidiary of Çalık Holding.

With the strength of the ongoing strategic partnership between Çalık Holding and ACG, Polimetal is planning to expand its operations by integrating ACG’s expertise, technology, and financial strength in order to develop and operate a world class mining field, producing various mines including gold, silver and zinc.

Paksoy is pleased to announce that a team led by M&A partner Elvan Aziz, counsel Zekican Samli Samlı and associate Beritan Zorkun Arık, LL.M. advised ACG on this acquisition. In addition, on the financing arrangements of the transaction ACG was advised by Paksoy B&F partner Sera Somay and associate Bülent Öztürk, as well as by partner Togan Turan and associate Selen Toma on obtaining the Competition Authority clearance.