International Court of Arbitration (ICC) dismissed Thursday businessman Cem Uzan's $2,5bn lawsuit against Turkey.

Uzan opened the lawsuit in April 2014 against Turkey's Energy and Natural Resources Ministry in a Stockholm court, over the termination of his family's electricity company concessions.

All previous cases filed by the Uzan Family had concluded in favor of Turkey in the last 10 years.

In 2011, the European Court of Human Rights also dismissed claims made by the Uzan family.Cem Uzan was an influential Turkish businessman involved in the media and banking industries. His family's media empire (Uzan Group) at one time included both television stations and print media.