Qatar Investment Authority’s $470 million joint venture with BRF to acquire 79.5 percent stake in Banvit Bandirma Vitaminli Yem Sanayii A.?.

White & Case LLP has advised the Qatar Investment Authority (QIA) on a joint venture between QIA and BRF, the Brazilian food manufacturer, to acquire a 79.5 percent stake in Banvit Bandirma Vitaminli Yem Sanayii A.?., a leading Turkey-based poultry company.

QIA will hold 40 percent in the joint venture and BRF 60 percent. This acquisition will be followed by a mandatory tender offer for the remaining 20.5 percent. Banvit, which is listed on Borsa Istanbul, is a leading Turkish producer of poultry, red meat and meat-based processed foods and has an enterprise value (for 100 percent of the shares) of approximately US$470 million. Closing of the transaction is subject to customary regulatory approvals.

The White & Case team which advised on the transaction was led by partners Michiel Visser (Picture), Guy Potel (London) and local partner Emre Ozsar (Istanbul), with support from partners James Killick (Brussels) and David Crook (London), local partners Derin Altan, Hakan Erslan (Istanbul) and Katarzyna Czapracka (Warsaw), and associates Steven Hannah, Will Summers, Marie Georgy, Greg Baker, Tom Wilkinson (all London) and Tolga Tezel (Istanbul).

Involved fees earner: Michiel Visser – White & Case; Guy Potel – White & Case; David Crook – White & Case; Steven Hannah – White & Case; Will Summers – White & Case; Marie Georgy – White & Case; James Killick – White & Case; Katarzyna Czapracka – White & Case; Hakan Eraslan – White & Case; Greg Baker – White & Case;

Law Firms: White & Case;

Clients: Qatar Investment Authority;