GKC Partners and White & Case advise Erdemoğlu Holding on sale of stake in SASA Polyester

Global law firm White & Case LLP and GKC Partners have advised Erdemoğlu Holding A.Ş. (Erdemoğlu Holding) on the sale of a 3.9 percent stake in SASA Polyester Sanayi A.Ş. (SASA) to institutional investors.

The transaction raised approximately US$142 million through an accelerated bookbuilding process. The offering was executed by HSBC Bank plc, acting as sole global coordinator and bookrunner. Quanta Financial Consultancy Company advised the board of Erdemoğlu Holding. Following the completion of the transaction, Erdemoğlu Holding remains the majority shareholder of SASA.

Erdemoğlu Holding is a diversified Turkish conglomerate with operations across textiles, manufacturing and other sectors. SASA, a key player in the Turkish polyester industry with more than 60 years in the market, manufactures specialty polymers, staple fibers and filament yarns.

The GKC Partners team in Istanbul was led by partner Ateş Turnaoğlu and counsel Derin Altan and included associate Muhammed Aşula. White & Case has a professional association with Istanbul-based GKC Partners.