Leveraging our independence and lack of potential conflicts, we have a strong track record in sell-side advisory roles. With its long-standing relationships with many of the leading strategic buyers and financial sponsors groups with vested or potential interest towards Turkey, Pragma is able to help its sell-side clients gain access to strategic and private equity investors.

Acting for target companies our scope of work generally includes:

• identifying potential strategic or financial investors or buyers and initiating contacts with them ;
• preparation of teaser, information memorandum, management presentation, business plan and other marketing documents that may be needed;
• undertaking valuation exercise using various methodologies (including Discounted Cash Flow analysis, comparable trading and transaction multiples) and scenario analysis;
• advising on negotiation of price, structure and commercial terms of sale or partnership;
• co-ordinating the due diligence and data-room process;
• co-ordinating the work of other advisers such as legal, accounting, tax;
• working with other advisors in preparation and negotiation of the transaction documentation including shareholders agreement and share purchase agreements.

We have a strong record of successful buy side advisory assignments. Our buy-side clients include multinational corporations, private equity groups or local investor groups, interested in penetrating the Turkish market by acquiring Turkish companies or establishing partnership with local players. Acting for buyers, we manage and facilitate the entire market-search and acquisition process from initial contact to closing.

Our scope of work generally includes:

• identifying potential target companies and initiating contacts;
• working on commercial due-diligence to evaluate the financial and operational condition of businesses;
• conducting valuation by building a financial model and using trading and transaction multiples;
• advising on negotiation of price and commercial terms;
• co-ordinating the work of other advisers, including lawyers, accountants, environmental or technical consultants and tax specialists;
• If required, assisting our client in partnering with other investors in bidding for the targets;
• Collecting competitive intelligence in the event of competitive auction processes
• If required, assisting our client in raising acquisition financing;
• working with other advisors in preparation and negotiation of agreements;
• advising on the strategy and mechanics for implementing the sale and purchase.

Pragma acts as an advisor in originating, structuring and executing equity financing from private equity funds looking into Turkey. Thereis a significant number of private equity funds looking for investment opportunities in Turkey. Pragma has developed long term relations with private these equity funds. We also closed several high profile transactions with private equity funds.

In private equity transactions, Pragma advises on :

• Transaction structuring
• Identifying and contacting selected financial partner candidates in accordance with the client’s strategic and financial goals
• Preparing information memoranda and other appropirate sales material
• Valuation issues
• Assisting in negotiating
• Closing the proposed sale

Pragma acts as an advisor in originating, structuring and executing debt financing for its clients.In the past Pragma completed several complex debt finance transactions. We advise on a wide range of debt products including:

• Mezzanine financing
• Project finance
• Structured products
• Acquisition financing

In debt transactions, we typically review and analyze structural alternatives, assist in long-term capital planning, determine the suitable capital structure and originate and execute a suitable financing package.