June 2023 – Kinstellar, Gen Temizer Özer have successfully advised the Gora Family on the sale of 100% of their shares in Murat Ticaret, a Turkish complex wire harness manufacturer, to Volex plc, a UK-listed specialist integrated manufacturer of critical power and data transmission products, for a total consideration of up to approximately EUR 178.1 million, together with a placing and retail offer to raise gross proceeds of approximately GBP 60 million in aggregate. As part of the consideration, the Gora Family will be entitled to receive ordinary shares of Volex plc.
The transaction is expected to close in the third quarter of 2023, subject to, inter alia, approval by the Turkish and Macedonian competition authorities.
Established in 1969, Murat Ticaret Kablo Sanayi A.Ş. is a leading Turkish manufacturer of cable harnesses and high voltage battery cables for the agricultural, commercial and industrial vehicle markets.
Volex is a global producer of power cords and a leading producer of electric vehicle charging cables and cable assemblies primarily serving a diverse range of markets, with particular expertise in data centre power and connectivity, consumer electronics, electric vehicles, and healthcare equipment.
The Kinstellar / Gen Temizer Özer team was led by Partners Baran Gen and Edmund Emre Özer, supported by Managing Associate Dila Topuz and Associates Sıla Özge Şaylı and Osman Tuğberk Çakırca.