The Beijing and Istanbul offices of Gide Loyrette Nouel (GLN) have advised Taiyuan Iron & Steel (Group) Co. Ltd. (TISCO), China’s largest stainless steel producer, on an investment worth approximately USD 300 million in three Turkish mining companies.

In a deal that is the first of its size involving a State-owned Chinese company in the mining sector in Turkey, TISCO purchased shares in three mining companies in Turkey. The acquisitions include 15 chrome mining licences and are expected to contribute to TISCO’s stainless steel production.

GLN advised TISCO on all aspects of the acquisition including the general evaluation of the foreign investment environment in Turkey, deal structuring, legal due diligence, drafting transaction documents, Turkish employment issues for Chinese staff and advising on further business investments in Turkey after the acquisitions.

The GLN Beijing team was led by partners Guillaume Rougier-Brierre and Yan Lan with assistance from senior associate Chen Aiwa.