Groupe Cheque Dejeuner,the international holding that I represent, had an opportunity at the end of 2009 to make an important acquisition for its development in Turkey.
3 Seas Capital Partners was recommended to us by a friend from Strasbourg, who himself is friends with a World Bank official responsible for Turkey and Asia Minor. This gentleman confirmed the recommendation from our Strasbourg colleague, and so we decided to entrust this file to 3 Seas Capital Partners, a member of IMAP.
The transaction was very complicated due to significant risks, fierce internal and external competition, and a distressed situation with regards to selling, as the target firm was under the supervision of the SDIF.
Mr. Şevket Başev and his entire team worked together to ensure that the transaction was successful. Moreover, the team brought in qualified advisors (lawyers, human resources, accounting and finance officers) who were highly knowledgeable with regard to both the general aspects and the specific situation of that moment around ur project.
We continue to work with most of these teams, who became our advisors. Our satisfaction was such that we asked Mr. Şevket Başev to guide our general manager in Turkey, particularly following the emergence of some internal tension; the 3 Seas Capital Partners team had counseled us, during the instruction period, of the possible occurrence of this sort of tension.
If today we were to embark on a new acquisition or sale project, without a doubt we would call in the 3 Seas Capital Partners team. In other countries, we also prefer to work with contacts within the IMAP network whenever possible, taking into account this Turkish experience.