Clear Channel sells Turkish assets to local investor
Esin Attorney Partnership, a member firm of Baker & McKenzie International, a Swiss verein, advised Clear Channel Ireland Limited (Clear Channel) on the sale of its Turkish assets, Clear Channel Tanıtım ve İletişim A.Ş. and Mars Reklam Prodüksiyon A.Ş., to Turkish investor Umut Şenol. Clear Channel has been one of Turkey's premiere outdoor advertising companies for more than a decade, prominently featured throughout Istanbul's public transport system and largest retail centers.
Remarking on the matter, partner Duygu Turgut commented that “The transaction was more than a simple M&A deal; we have provided Clear Channel 360 degree law advice in numerous areas, including corporate, IP, employment, competition, tax, employment throughout the process. Although the transaction was highly complex, it was closed relatively rapidly with intense cooperation between the deal teams.”
The deal was lead by Duygu Turgut and Ali Selim Demirel, supported by Gökçe Serez,Pınar Erdem and the Firm's corporate, IP, employment, competition, tax, and employment practice groups.