Global law firm Norton Rose Fulbright has advised International Holding Company (IHC) in connection with its AED 1.8 billion (approximately USD 490 million) acquisition of a 50% stake in Kalyon Enerji, through its subsidiary International Energy Holding.
Turkish clean energy provider, Kalyon Enerji, which is part of Turkish conglomerate Kalyon Holding, focuses on research and development and innovation studies, with the aim of making renewable energy sources accessible to meet rising demands. Its investments in the energy sector focus on gas, solar and wind energy.
The deal, which was signed on 10 August, saw International Energy Holding acquire Kalyon Karapınar Solar Power Plant and other renewable projects in Turkey.
Once completed, the Kalyon Karapınar Solar Power Plant alone will meet the annual electrical energy needs of approximately two million people.
Norton Rose Fulbright team was led by Dubai-based corporate partner Zubair Mir (pictured), with support from partners Mark Berry, Nicholas Kramer, Angela Croker and Ayse Yuksel Mahfoud. The team also included counsel Shazi Askarpour, Andrew Davies and Victoria Scopes, senior associates Ed Gardner and Kenza Bensaid, and associates Kanan Kasuya and Alper Tuzun.
Turkish law advice was provided by the team led by Selin Bayar and Utku Ünver from Pekin Bayar Mizrahi, the alliance firm of Norton Rose Fulbright in Turkey.