Gide has advised Renault on the renewal of its strategic partnership with OYAK in Turkey, extending their joint venture relationship.
The agreements signed on 26 June 2018 start a new page in Renault's nearly 50-year history in Turkey, as they regulate the new terms of the joint venture relationship, including the manufacturing by OYAK-Renault of Renault and Dacia vehicles, their parts and spare parts, as well as their commercialisation by MAİS on the Turkish market.
The agreements bring no change to the shareholding structure of the joint venture companies: Renault still holds 51% and OYAK 49% of the share capital of manufacturing entity OYAK-Renault, while OYAK holds 51% and Renault 49% of commercial entity MAİS.
Turkey is Renault Group's sixth largest market worldwide, with the OYAK-Renault joint venture ranking top in passenger car exports in Turkey. The extension of this historic partnership is thus expected to further provide significant added value to the Turkish economy.
Gide and its associated firm Özdirekcan Dündar Şenocak advised Renault on this operation, with a team led by partner Arpat Şenocak and associate Yavuz Akçakaya.