The financial signing ceremony for the Nakkaş-Başakşehir section of the Northern Marmara Highway Project was held on 18 October 2024. The project is one of Türkiye’s largest in the road sector and attracted a total investment of EUR 1.43 billion, with five project sponsors and 16 participating financial institutions. Samsung C&T and Korean sovereign funds KIND and KDB KIAMCO act as project sponsors alongside Turkish construction group Rönesans Holding and the Korea Expressway Corporation. The Korean consortium’s participation was hailed as the largest overseas road construction project ever won by a South Korean group.

Paksoy is pleased to announce that a team led by partners Stéphanie Beghe Sönmez and Sera Somay, along with counsel Zekican Samli, senior associate Sabri Kaya, and associate Bülent Öztürk, is acting as Turkish counsel to Samsung C&T, KIND and KDB KIAMCO in this transaction, with Ashurst serving as global counsel. Paksoy partner Ökkeş Şahan advised on capital markets aspects, while partner Togan Turan, together with associates Gamze Boran and Selen Toma, handled the merger clearance.