Leading global law firm Baker McKenzie has advised DFDS, the leading Danish shipping and logistics company, on the acquisition of 98.8% of the shares of U.N. Ro-Ro for an enterprise value of EUR 950m, Turkey’s largest operator of freight ferry routes in the Mediterranean.
With this acquisition, DFDS expands its activities into the Mediterranean, one of Europe’s most dynamic freight markets.
The transaction is expected to close in June 2018, pending approval by the Turkish, Austrian and German competition authorities.
This was a cross-border transaction led by Baker McKenzie partners Eren Kurşun (Istanbul) and Charles Whitefoord (London), together with Senior Associates Caner Elmas (Turkey) and David Hart (London). They were assisted by lawyers from Baker McKenzie’s Milan, Rome and Brussels offices.
London Corporate partner Charles Whitefoord commented: "We were delighted to advise our client DFDS on this acquisition, as it continues to grow its business and expand its route network."
Baker McKenzie's Head of M&A in Turkey Eren Kurşun added: “The transaction proves continued interest from foreign strategic investors in Turkey.”