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US-firm Edwards Wildman is to open an office in Istanbul through an association with Turkish M&A firm Ismen, months after the two firms worked together on a £36m deal.
Los Angeles-based Ted Cominos is leading the development of the launch and will work closely with Ismentowards an office launch expected on 1 September, a date which is subject to regulatory approval by the Istanbul Bar Association. The office will be led by Ismen co-heads Tolga Ismen and Arzum Gunalcin, while international law will be led by Cominos, who is staying in LA.
In a statement Cominos said: “Istanbul has become a hub for sophisticated M&A and private equity activity as multinational companies and private equity firms are attracted to the increasingly active CEEMENA [Central & Eastern Europe, Middle East and Northern Africa] region.”
The two firms had worked together on a £36.1m deal back in October, when Cominos advised Global Finance as it sold 65.7 per cent of its outstanding shares in Eurodrip to New York-based private equity group Paine & Partners. The firm turned to Ismen managing partner Tolga Ismen as its Turkish counsel on the sale (16 October 2012).
The former Linklaters partner was international head of CMS Cameron McKenna’s private equity arm before he moved to Edwards Wildman in March 2012 (22 March 2012). He also worked for London-based private equity house Ethemba Capital, which he joined Camerons from.