Bank pair pick Mayer Brown team

The London office of US firm Mayer Brown & Platt has won work advising investment banks Merrill Lynch and Credit Suisse First Boston on one of the largest Turkish capital markets deals.

It is the first time the firm has acted for the two clients in the country, and the first time the London office has been involved in work for them in emerging markets.

The two banks are joint lead managers and bookrunners for a $285m (£181m) offering of shares of Garanti Bank.

Mayer Brown was recommended to the two banks by Garanti after it worked for different underwriters on a previous deal Garanti was involved with.

London capital markets partner Richard Cole says the capital markets in Turkey are becoming increasingly active. He says: “Both clients are interested in emerging markets themselves, so it was nice getting to know them.”

Local firm Pekin & Pekin is advising the banks on Turkish law, while White & Case is advising Garanti on US and UK law.