King & Spalding: Aydın Group sells Major Stake to DIB

King & Spalding provided legal guidance to Aydın Group in the sale of a 20% minority stake in the T.O.M. Group to Dubai Islamic Bank (DIB). This transaction includes an option for DIB to increase its shareholding to 25% within 12 months.

Aydın Group, a major employer in Türkiye with over 80,000 employees, boasts one of the country’s largest multi-brand retail footprints, featuring over 13,000 retail stores encompassing various sectors. In addition to its retail presence, Aydın Group operates in the healthcare services sector through Memorial Healthcare Group, overseeing a total of 12 hospitals and 2 medical centers in Türkiye and Romania. T.O.M. Group, previously wholly owned by Aydın Group, is a digital banking and financial technology conglomerate.

The financial details of the transaction remain undisclosed, and Aydın Group received legal counsel on Turkish law matters from the Lexist law firm.

The Lexist law firm advised Aydın Group on Turkish law matters in the transaction.

King & Spalding Dubai team included Macky O’Sullivan (Partner, Corporate, Finance and Investments, pictured left), Benjamin J. Williams (Partner, Trial and Global Disputes / International Arbitration and Litigation, pictured right), Asal Saghari (Counsel, Corporate, Finance and Investments) and Jamie Kershaw (Associate) with members of the London team including Derek Meilman (Partner, Corporate, Finance and Investments), Paul Barron (Partner, Corporate, Finance and Investments), J. John Lim (Associate) and William Morris (Associate).