Baku

Baku

Dentons Europe (Central Asia) Limited

Landmark I
96E Nizami street
Baku, AZ1000
Azerbaijan

P +994 12 4 90 75 65

F +994 12 4 97 10 57

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This oil-rich economy, where the international petroleum industry began in the mid-19th century, has experienced a second oil boom following independence in 1991. The opening of new export routes via the Baku-Tbilisi-Ceyhan oil pipeline and the South Caucasus Pipeline system for gas has led to public spending increases in infrastructure projects and the modernization of Azerbaijan. At the same time, diversification of the economy and the development of new industries are a national priority. Openness to foreign investment has aided Azerbaijan's transition to a market economy and wide-ranging reforms have improved its overall macroeconomic environment. With this rapidly developing and reforming country, you need a firm that's familiar with the local, as well as the larger challenges.

Dentons has that understanding. The Baku office is truly immersed in the country and has been active in Azerbaijan for more than two decades. Our lawyers deliver intelligent solutions from a position of knowledge and strength and speak your language, being fluent in English, Azerbaijani and Russian.

Major international and local companies, as well as financial institutions and government entities, seek Dentons' advice because of our strength in foreign investment, energy and natural resources, banking and finance, real estate and infrastructure development. If you're looking for assistance with larger multi jurisdictional projects, our network of experienced partners in the other Dentons offices will ensure that you consistently benefit from insightful solutions. Work with us in Baku— you can be sure you'll be in safe hands.

Experience

Pool of International Creditors: A Dentons’ multi-office team represented a pool of leading international financial institutions as creditors to AccessBank, one of the leading commercial banks in Azerbaijan, in successful debt recapitalization of the bank valued at US$108 Million in Tier I, Tier II, and contingency capital. The transaction perfectly illustrates Dentons’ ability to assemble a deep pool of talent in CIS/CEE restructuring and leading local regulatory expertise. Valued at over US$100 million, the deal represents the second largest recapitalization and restructuring in the history of the Azerbaijani financial sector. Advised the lenders’ steering committee on all aspects of the transaction under Azerbaijani law, negotiated with the bank and its shareholders, prepared an innovative restructuring and recapitalization plan, and obtained all required regulatory approvals from the Financial Market Supervisory Authority of the Republic of Azerbaijan, drafted and negotiated all underlying Azerbaijani law agreements, and implemented all aspects of this complex restructuring.
Pasha Bank: Advising a leading investment and corporate bank in Azerbaijan, on the Azerbaijani law governed US$15 million unsecured syndicated loan facility first lending transaction of kind in Azerbaijan, including drafting the cutting-edge bilingual precedent in a fast-changing legal environment, as well as negotiating the terms of the transaction among multiple parties to bring the deal to a successful closing.
CNIM S.A.: Advising the French engineering and construction company on the drafting, negotiation and implementation of a Fédération Internationale Des Ingénieurs-Conseils (FIDIC) design-build-operate contract, adapted to conform with Azerbaijani law, for the construction and operation of a €346 million state-of-the-art waste-to-energy incineration plant in Baku, and related corporate, commercial, administrative and employment work.
German bank: Advising in connection with two export credit loans of €56.2 million and €7.8 million to the International Bank of Azerbaijan for financing the purchase by Caspian Management Systems LLC of a turnkey wind park and related services from German exporter Mitaki Project GmbH, under Euler Hermes cover. This loan transaction, which is essential to the new Mitaki wind park project, was named Deal of the Year by Trade Finance magazine.
International automobile manufacturer: Advising and representing one of the biggest international automobile manufacturers in a products liability claim raised by a consumer alleging more than €6 million in moral and material damages. The case which started in 2010 went through all levels of the courts and our team successfully ended the case in the final appellate hearing. The decision of the Supreme Court of the Republic of Azerbaijan was entered in favour of our client on all counts. The successful outcome of the case may be a deterring factor for others to raise similar groundless claims against international automobile manufacturers.
International Bank of Azerbaijan: Advising on the establishment of an Islamic Banking Unit and the drafting of amendments to the banking legislation of Azerbaijan to accommodate Islamic banking. This will be the first time that Islamic banking products will be offered in Azerbaijan and will serve as a model for any future Islamic banking structures within the country and the region.
Internationally known beverage producer: Advising this internationally known beverage producer on the successful acquisition of Baku-Castel, the largest brewery in Azerbaijan.
Islamic Corporation for the Development of the Private Sector (ICD): Advising on the Establishment of the first Takaful Company (an Islamic insurance company) in Azerbaijan and in the extension of credit lines to two local banks.
Islamic Corporation for the Development of the Private Sector (ICD): Advising the Islamic Corporation for the Development of the Private Sector (ICD) on lines of financing to support Islamic finance products. These are some of the few financial transactions ever to take place involving the promotion of Islamic finance in Azerbaijan.
Komerční banka, a.s: Advising a leading Czech bank in a €247 million export credit loan to the Ministry of Transport of Azerbaijan for the financing of highway construction equipment and services related to the reconstruction of the Heydar Aliyev International Airport – Mardakan circle – Bilgah road, backed by a sovereign guarantee.
Major international oil company: Advising on the preparation of a commercial lease agreement, including facility management services, under the laws of Azerbaijan, and negotiations over a lease of several floors of major commercial space in a high-profile new office development in Baku.
Major property developer: Advising in an ICC arbitration between a major property developer and an international construction company concerning a waterfront hotel, residential and commercial office complex.
Operator of a major offshore oil and gas project: Advising on one of the largest production sharing agreements in Azerbaijan during the years following independence, advising on amendments thereto, as well as drafting the text of a law giving legal force to the amendments.
State Committee on Property Issues of the Azerbaijan Republic: Advising on the reduction of the state-owned stake and subsequent privatization of the International Bank of Azerbaijan. This represents one of the largest privatization transactions in the history of Azerbaijan. The International Bank of Azerbaijan is the largest bank in Azerbaijan, having a market share in excess of sixty percent. This likely will be the last major privatisation to take place within Azerbaijan.
Technikabank: Representing this major Azerbaijani bank on the first successful Eurobond issuance of any entity in Azerbaijan, based on a listing on the London Stock Exchange.

Recognition

The Legal 500 EMEA 2019: Top tier in Azerbaijan based on client and peer feedback in Legal Market Overview; described as the 'responsive and knowledgeable' Dentons team in Baku;
Chambers Asia-Pacific & Chambers Global 2019: Ranked Band 1 in General Business Law in Azerbaijan; “Prominent international law firm with a top-tier reputation for commercial and banking work. The firm regularly represents international clients from the banking, manufacturing and oil and gas sectors”, "They are very active and good in the market";
IFLR1000 2019: Ranked Tier 1 in both Financial and corporate and Project development: Oil and gas in Azerbaijan; The Baku office of Dentons is one of the leading names in Azerbaijan’s legal market across the board. The firm has significant experience working on cross-border deals in the region. “Overall the impression is that the counsels are well-equipped with knowledge and expertise”;
The Legal 500 EMEA 2018: Top tier in Azerbaijan based on client and peer feedback in Legal Market Overview;
Chambers Asia-Pacific & Chambers Global 2018: Ranked Band 1 in General Business Law in Azerbaijan; "They're very active, friendly and positive, with a fast and flexible approach. We appreciate their attention to customisation and understanding of our industry segment, and value their emphasis on building and maintaining a long-term relationship.", "They're very flexible and they get back to us quickly. They work every day we need them; I really value how they understand the situation.", "The firm has an extensive international reach and it provides a one-stop shop for Azerbaijan branch management and administrative services required."
IFLR1000 2018: Ranked Tier 1 in “Oil and Gas” in Azerbaijan;
IFLR1000 2018: Ranked Tier 2 in “Financial and Corporate” in Azerbaijan; “As part of the largest international network in the world, the Azerbaijani office of Dentons is able to leverage that position into significant mandates in the domestic market”;
The Legal 500 EMEA 2017: Top tier in Azerbaijan based on client and peer feedback in Legal Market Overview; "outstanding knowledge of Azerbaijan and its laws and government, and finds workable solutions to business problems"
Chambers Asia-Pacific & Chambers Global 2017: Ranked Band 1 in General Business Law in Azerbaijan;
IFLR1000 2017, Energy and infrastructure: “Dentons in Baku has developed substantial legal expertise in oil and gas throughout the years”
IFLR1000 2017, Financial and corporate: “They gave us legal opinion and analysis on making joint ventures and advised on which form of venture would be better,” “They are cost effective, negotiable and Kamal [Mammadzada] is very good and always has time”
IFLR1000 2017: Ranked Tier 2 in “Financial and Corporate” in Azerbaijan
IFLR1000 Energy and infrastructure 2017: Ranked #1 in Energy and infrastructure by IFLR1000 Guide, Energy and Infrastructure: Emerging Europe, CIS and Scandinavia, 2017
IFLR1000 Energy and infrastructure 2016: Ranked #1 in Energy and infrastructure by IFLR1000 Guide, Energy and Infrastructure: Emerging Europe, CIS and Scandinavia, 2016
Chambers Asia-Pacific & Chambers Global 2016: Ranked Band 1 in General Business Law in Azerbaijan;
IFLR1000 2016: Ranked Tier 2 in “Financial and Corporate” in Azerbaijan
The Legal 500 EMEA 2016: Top tier in Azerbaijan based on client and peer feedback in Legal Market Overview
Chambers Asia-Pacific & Chambers Global 2015: Ranked Band 1 in General Business Law in Azerbaijan;
IFLR1000 2015: Ranked Tier 2 in “Financial and Corporate” in Azerbaijan
The Legal 500 EMEA 2014: Top tier in Azerbaijan based on client and peer feedback in Legal Market Overview
Chambers Asia-Pacific 2014: Ranked Band 1 in General Business Law in Azerbaijan;
Chambers Global 2014: Ranked Band 2 in General Business Law in Azerbaijan;
IFLR1000 2014: Awarded “Recommended Firm” in Azerbaijan;
Chambers Global 2013: Awarded “Leading Firm” in General Business Law;
The Legal 500 2013: Top tier in Azerbaijan based on client and peer feedback.

Dentons secures top-tier recognition in The Legal 500 EMEA 2025

March 28, 2025

Dentons has reinforced its position as a leading global law firm in The Legal 500 EMEA 2025 guide, securing 266 practice and sector rankings across Europe, the Middle East, and Africa. The guide also recognized 247 Dentons lawyers with 299 individual rankings across 32 jurisdictions, underscoring their leadership in their respective practice areas.

Chambers Asia-Pacific 2025 - Dentons unrivalled in Central Asia

December 12, 2024

In the 2025 edition of the Chambers Asia-Pacific guide, Dentons has received Band 1 rankings across all practices assessed in Azerbaijan, Kazakhstan, and Uzbekistan, retaining its leading position in Central Asia.

Dentons boosts its quality rankings in The Legal 500 EMEA 2024

April 3, 2024

The Legal 500 EMEA 2024 has awarded Dentons 260 practice and sector rankings across Europe, Middle East and Africa, including 82 Tier 1 and 82 Tier 2 standings. The Firm earned 35 new or improved practice rankings, confirming the ever-strengthening scope and quality of client services. In addition, we received a total of 282 individual rankings for 234 Dentons lawyers in 37 jurisdictions placing them among the leaders in their respective practice areas.

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Insights

Dentons Calling #8 - Merger Control in Azerbaijan

October 1, 2024

Azerbaijan has introduced significant changes to the merger control regime. What are the key amendments that entered into force on July 1, 2024? Watch the eighth episode of Dentons Calling and learn about the latest merger control developments in Azerbaijan.

Dentons Global Taking Security Guide

June 27, 2024

Global: In our interconnected global economy, banking and finance transactions are becoming increasingly complex and regulatory frameworks are constantly evolving. Our Global Taking Security Guide offers you a clear, practical Q&A style overview of how to take security in more than 40 jurisdictions across the globe.

Azerbaijan Doing Business Guide 2023

May 2023

Azerbaijan: Dentons’ Baku office has recently published the sixteen edition of its doing business guide, “Succeeding in Azerbaijan,” which represents the collective knowledge and experience of our Firm’s years of advising clients in Azerbaijan.

View all insights for Baku