Istanbul, Turkey, 19 March 2015 – Olgar Group, Turkey's leading retailer of sports clothing and equipment, and Kuwait-based private equity investor Global Investment House agree to a partnership through share sale.

"Turkey has seen a significant increase in M&As in its retail sector, particularly with the Ziylan stake sale, Carlyle's acquisition of shares in Penti, NBK Capital's acquisition of Yatsan, and of course, Abraaj's recent acquisition of shares in BRN Sleep Products. Olgar's sale to Global Investment House is the latest in a growing trend of private equity investments in Turkey's booming retail market," said Duygu Turgut.

"It was a pleasure to work with a cross-border team on this dynamic transaction in which a private equity invested in a leading Turkish family-owned business," added Kuif Klein Wassink.

A team of lawyers from Esin Attorney Partnership, a member firm of Baker & McKenzie International, and Baker & McKenzie's Amsterdam office advised Orkun Olgar, Ozhun Olgar and Bekir Guven Olgar, shareholders of Olgar Group, on the sale of their shares to Global Capital Management Ltd., the alternative asset management arm of Global Investment House. The deal was signed January 30, 2015 and closed March 17, 2015.

Global Investment House's investment will support the introduction of new brands in the Turkish market and expansion of stores – including Quiksilver stores – at a time when Turkey is seeing an increased interest in sporting activities due to rising household incomes and changing demographics.

The deal was led by Istanbul-based Managing Partner Ismail Esin and Partner Duygu Turgut and Amsterdam-based Partner Kuif Klein Wassink, who also recently advised Abraaj on its acquisition of BRN Sleep Products. Supporting attorneys included Ali Selim Demirel, Orcun Solak, Asli Caglar (Istanbul) and Laurens Linnewiel and Aad Bos (Amsterdam).