Gide Loyrette Nouel’s global network has won it favors with Taiyuan Iron & Steel (Group) Co, China’s largest stainless steel producer.

Lawyers from the Beijing and Istanbul offices of GLN were well placed to advise TISCO on its USD 300 million acquisition of half of the shares in three Turkish mining companies from CVK Group.

It’s the first deal of its size involving a state owned Chinese company in the Turkish mining sector. The acquisitions include 15 chrome mining licenses and will contribute to TISCO’s stainless steel production.

Mr Guillaume Rougier-Brierre, partner, led the Beijing team for GLN. This outbound investment required an understanding of the foreign investment environment in Turkey and TISCO would have benefited from Rougier-Brierre’s experience in GLN’s Istanbul office, which he managed from 2000 to 2006 before joining the Beijing team.

Aside from drafting the transaction documents and performing the usual due diligence, GLN also advised TISCO on Turkish employment issues for Chinese staff and will advise on further business investments in Turkey after the acquisition.

(Sourced from asia.legalbusinessonline.com)