Torunlar Enerji Sanayi Ve Tic.A.S. and Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A.S. (IBSE:BASGZ) signed an agreement to acquire a 50% stake in Akcez Enerji A.S. from CEZ, a. s. (SEP:CEZ) on July 29, 2022. The transaction is subject to approval by the Turkish antitrust authority and the local energy regulator. The transaction settlement is conditional, inter alia, on the new co-owners agreeing to refinance AKCEZ Enerji's existing debt. The settlement of the transaction is also subject to having an agreement on financing. The sales process was advised by the global investment bank Citi and the Turkish investment bank Is Yatirim. The antimonopoly authority approved the transaction in January 2023, followed by the regulator in February 2023. Edmund Emre Özer, Müfit Arapoglu, and Kamil Blazek of Kinstellar and Gen Temizer Özer acted as legal advisor to Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi and Torunlar Enerji Sanayi ve Ticaret.

Torunlar Enerji Sanayi Ve Tic.A.S. and Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A.S. (IBSE:BASGZ) completed the acquisition of a 50% stake in Akcez Enerji A.S. from CEZ, a. s. (SEP:CEZ) on December 1, 2023. AKKÖK remains in the joint venture. Skils s.r.o acted as legal advisor ,Citi and Yatirim acted as Finacial advisors to CEZ.