Sullivan & Cromwell and Hergüner Bilgen Özeke advised Taiwan Cement Corporation on its estimated $1.1 billion joint venture with Ordu Yardimlasma Kurumu (OYAK) (Turkey) which turned to Baker McKenzie for advise.
After the agreement, which is the largest foreign direct investment (FDI) in Turkey in 2018, Taiwan Cement will hold 40 percent of the shares while OYAK will own 60 percent.
OYAK is Turkey's biggest cement producer. It currently has six companies in the cement sector, including Adana Cement, Mardin Cement, Denizli Cement, Bolu Cement, Unye Cement and Aslan Cement.
Taiwan Cement Corporation is a Taiwan-based publicly-listed corporation engaged in the manufacture and sales of cement and ready-mixed concrete.
The Sullivan & Cromwell team included partners Gwen Wong, Ching-Yang Lin and Juan Rodriguez.
To contact the editorial team, please email ALBEditor@thomsonreuters.com.