"Clifford Chance Facilitates Sale of 51% Stake in İSKEN Power Plant from Steag Power to OYAK"

"Clifford Chance has advised Steag Power GmbH on the sale of its 51% stake in İSKEN to OYAK, making OYAK the sole owner of the İSKEN Sugözü Power Plant, which provides about 3% of Türkiye's electricity. This transaction is significant for the Turkish energy sector, highlighting ongoing consolidation and investment in the market. The deal involved a team of legal experts from Clifford Chance, including partners and associates from both the Düsseldorf and UK offices."

**Law Firms Involved in the Transaction:** Clifford Chance advised Steag Power GmbH on the sale of its 51% stake in İSKEN to OYAK. **Transaction Overview:** The transaction involved Steag Power GmbH, a prominent energy company based in Germany, selling its majority stake in İSKEN to OYAK, a leading industrial group in Türkiye. Following the completion of this transaction, OYAK has become the sole owner of the İSKEN Sugözü Power Plant, which plays a crucial role in supplying approximately 3% of Türkiye’s total electricity demand. The İSKEN Sugözü Power Plant, with an installed capacity of 1,360 MW, is a vital contributor to the country's energy supply and has significant socio-economic implications for the Çukurova region. This deal signifies a notable development in the Turkish energy sector, highlighting ongoing consolidation and strategic investment activities. **Legal Team:** The legal team from Clifford Chance included: - Itır Çiftçi (Partner) - Deniz Yetkin (Senior Associate) - Aysu Gürbüz (Associate) - Sena Cengiz (Associate) - Alex Cook (support on UK law matters) Additionally, the Clifford Chance Düsseldorf office contributed with: - Anselm Raddatz (Partner) - Yannick Niedergethmann (Senior Associate) on German law aspects.

"Clifford Chance Facilitates Sale of 51% Stake in İSKEN Power Plant from Steag Power to OYAK"

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