Isiklar Holding

ReformKurumsal restructured approximately US$ 200 million debt of this family controlled public company with operations in 4 countries. This has been the first and successful restructuring performed under Istanbul Approach, marking the Turkish business history. Through ReformKurumsal’s comprehensive hands-on turnaround management services, the group recovered from stalled revenues and profits to a healthier state to pay its restructured debts, despite the unfavorable general economic climate.

• Workout period: 2001-2002

• Design and implementation of Strategic Restructuring Plan

• Design and implementation of Corporate Governance Code

• USD 200 mm financial restructuring,

First case signed under Istanbul Approach

• USD 90 mm restructuring revision

• Managing the spin-off program

- Selling a brick plant in USA

- Selling 50% of a paper-sack plant in Turkey

- Selling a brokerage company

- Selling a pulp & paper plant in Bulgaria

- Selling 50% of a paper-sack plant in Egypt

• Setting up a new JV for the wine business

• Interim management for 24 months; ReformKurumsal partners acting as CEO and being board members.

• Design and implementation of performance improvement program

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