Banvit, which is listed on Borsa Istanbul, is a leading Turkish producer of poultry, red meat and meat-based processed foods and has an enterprise value (for 100% of the shares) of approximately US$470 million. Closing of transaction is subject to customary regulatory approvals. International lead counsel to QIA was White & Case.
"It is especially important for the structuring of joint ventures that aspects pertaining to tax and corporate law are arranged in accordance with each other," explained Niklas Schmidt, Partner and Head of the Tax Practice Group at Wolf Theiss. "The close cooperation between our Tax and Corporate Practice Groups has once again proven itself in this transaction. We’re delighted that we, together, could provide our client with such a high level of service."
The Wolf Theiss team that advised on the transaction was led by Partners Michael Lind (Corporate / M&A) and Niklas Schmidt (Tax) with support from Senior Associate Eva Stadler (Tax) and Associate Markus Reinfeld (Corporate / M&A).