KomatsuBaker & McKenzie (Gaikokuho Joint Enterprise) in Tokyo and Esin Attorney Partnership (Istanbul), the Turkish member firm of Baker & McKenzie International, have advised Japan-based Marubeni Corporation on the acquisition of a 49 percent stake in Temsa İş Makinaları İmalat Pazarlama ve Satış A.Ş. (Temsa İş Makinaları), a Turkish distributor of Komatsu construction equipment, from TEMSA GLOBAL Sanayi ve Ticaret A.Ş. (TEMSA GLOBAL). The deal was signed on March 5 and closed April 28.

The multi-jurisdictional Baker & McKenzie team was led by Istanbul-based M&A partners Ismail Esin and Aslı Yiğit, Of Counsel Mina Arai-Ito (Tokyo) and supported by associates Sıtkı Can Tulay (Istanbul), Beelian Tay (Tokyo), Seiji Tomimoto (Tokyo) and Masahiro Inaba (Tokyo).

“This acquisition marks an important step in the partnership between Marubeni and Temsa İş Makinaları. With the contribution of Marubeni, Temsa İş Makinaları will strengthen its leading position in Turkey,” said Istanbul-based M&A partner Aslı Yiğit in a press release.

“Turkey is becoming an increasingly important and popular investment destination for Japanese investors, mainly for its strong domestic market and its position as a hub for the wider region. Marubeni’s acquisition is a symbolic deal which will further strengthen ties between Turkey and Japan,” Tokyo-based Middle East and Africa Focus Group head Mina Arai-Ito added.

Founded in 1858, Marubeni Corporation is one of the largest trading companies in Japan, with a presence in 65 countries through its overseas branches and subsidiaries. Marubeni currently operates the business of distributing Komatsu construction equipment in the UK, Philippines, Vietnam, Russia and Mexico. Together with the credibility of Sabancı Group, Marubeni will leverage its experience and knowledge in this business field to further strengthen and expand Temsa İş Makinaları’s construction equipment distribution business.

Temsa İş Makinaları is a subsidiary of the Sabancı Group, one of Turkey’s leading industrial and financial conglomerates.