Linklaters has advised Metair Investments Limited, a leading South African investment holding company, on entering into an agreement to dispose of its Turkish business, the Mutlu Group, to Quexco Incorporated for US$110 million, subject to customary adjustments. The Mutlu Group manufactures and trades energy storage products and solutions and is one of the largest automotive battery manufacturers in Türkiye.
This strategic divestment is driven by Metair’s planned global streamlining of its business operations. The sale proceeds will enable Metair to significantly reduce debt and optimise the capital structure of its South African subsidiaries. Additionally, this move allows Metair to focus on its core automotive component manufacturing business in Sub-Saharan Africa.
The Linklaters team was led by Warsaw-based corporate Partner and Türkiye Group Co-Head Daniel Cousens and Düsseldorf-based Managing Associate Mikhail Fufaev. They were supported by Associate Nikolay Altukhov, based in Düsseldorf, and the Linklaters London tax team, led by Partner Chris Smale and Associate Philip Gilliland. Taboglu Attorneys advised on Turkish law and Linklaters alliance partner Webber Wentzel advised on South African law.
Linklaters has a market-leading practice in Türkiye, advising across M&A, infrastructure and energy and finance.