Kinstellar and its Turkish affiliate Gen Temizer Ozer have advised Baskent Dogalgaz Dagitim and Torunlar Enerji on their acquisition of CEZ Group’s 50% stake in Akcez Enerji. Skils and, reportedly, Norton Rose Fulbright Turkish affiliate Pekin Bayar Mizrahi advised the CEZ Group on the sale.
The transaction remains contingent on regulatory approval.
According to Kinstellar, Akcez, a joint venture of the CEZ Group and Akkok Group, “owns the electricity distribution, sale, and services businesses Sakarya Elektrik Dagitim and Sakarya Elektrik Perakende Satis, which together serve two million customers and operate 60,000 kilometers of distribution networks in the Sakarya province. Following final closure of the deal, [the CEZ Group] will exit its existing joint venture with the Akkok Group.”
Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi is the second-largest gas distributor in Turkey. Torunlar Enerji Sanayi ve Ticaret is a Turkish investment holding company and the majority owner of Baskentgaz.
The CEZ Group, headquartered in the Czech Republic, is a utility company.
Kinstellar’s team in the Czech Republic included Partner Kamil Blazek and Associate Matej Vecera. Gen Temizer Ozer’s team included Partners Edmund Emre Ozer and Mufit Arapoglu, Senior Associate Seyma Olgun, and Associates Nazli Kardesler and Ege Erol.
The Skils team included Partners Karel Drevinek and Vladimir Kykal and Senior Associate Tomas Bayer.