Balcıoğlu Selçuk Akman Keki Attorney Partnership (“BASEAK”) team, led by partner Müfit Arapoğlu and Dentons partner Tamsyn Mileham, together with counsel Ceren Su and senior associate Arzu İnoğlu, successfully advised Entek Elektrik Üretimi A.Ş, a subsidiary of Koç Holding (“Entek Elektrik”) on US$106 million and TRY 646.2m cash facilities and TRY 1,05 billion letter of guarantee facility provided by a syndicate of Turkish and international commercial banks and The European Bank for Reconstruction and Development, to acquire the Menzelet and Kılavuzlu hydropower plants from the Privatisation Administration.

Entek Elektrik, the winning bidder of a competitive privatisation tender with 1 billion 276 million TL, took over the operating rights of two hydropower plants in Kahramanmaraş province in Turkey’s south-east: Menzelet and Kılavuzlu, with 124 MW capacity and 54 MW respectively.

Entek Elektrik launched its investment works in 1995 and started up electricity generation at the end of 1998. First plant was built in Bursa Demirtaş Organized Industry Site with a capacity of 104 MW. Entek Elektrik’s installed capacity has increased to 422 MW from 244 MW with the acquisition of these two hydro power plants.

Founded in 1926, Koç Holding is Turkey’s leading diversified holding company and one of the largest industrial and services group in terms of revenues, exports, taxes paid, share in Borsa Istanbul’s market capitalization and employment generation.

It operates through the following segments: energy, automotive, consumer durables, finance and etc. The energy segment operates in refinery, fuel distribution, LPG distribution, power generation, natural gas and other industries.

Dentons partner Tamsyn Mileham advised Entek Elektrik on English law matters and BASEAK partner Müfit Arapoğlu together with counsel Ceren Su and senior associate Arzu İnoğlu advised on Turkish law matters.

About Balcıoğlu Selçuk Ardıyok Keki

Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 130+ lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.