Merger control

In mergers and acquisitions businesses can always rely on ACTECON’s expertise in control over concentrations and experience with the Turkish Competition Authority. We have submitted numerous M&A notifications in various industries, as well as supported both buyers and sellers throughout the whole merger control process, including phase II cases.

ACTECON ensures compliance with merger control formalities at all stages of M&A cases of various complexities and provide expertise in:

  • Pre-merger assessments: competition law assessment of the market & competitive environment; determination of possible hidden risks; negotiation of competition law related clauses during negotiations.
  • Clearance notifications to the Competition Authority: Phase I and Phase II processes, negotiations and calculation of remedies.
  • Post-transaction audits and compliance: competition law compliance following closing of the deal.
  • Third-party claims: applications for objection, additional opinion and intervention regarding notifications submitted to the Competition Authority.
  • EU merger control: interacting with the European Commission, preparing and submitting EU filings, collaborating with EU partners.

 

Merger control thresholds in Turkey

The Turkish law requires a prior notification to the Turkish Competition Authority (“TCA”) of M&A transactions, which involve a change of control on a lasting basis, if certain financial thresholds are met. Article 7 of Communiqué No. 2010/4 on Mergers and Acquisitions Subject to the Approval of the Competition Board (the "Communiqué") sets out that a transaction is subject to the TCA’s approval where:

The aggregate turnover of the transaction parties in Turkey exceed TRY 100 million (approx. € 24.45 million[1]), and the turnover of at least two of the transaction parties each in Turkey exceeds TRY 30 million (approx. € 7.33 million), or

Either (i) the turnover in Turkey of the acquired assets or businesses in acquisitions, or (ii) of any of the transaction parties in mergers, exceeds TRY 30 million (approx. € 7.33 million), and the worldwide turnover of at least one of the other transaction parties to the transaction exceeds TRY 500 million (approx. € 122.25 million).

The notification requirement is also applicable to foreign-to-foreign transactions to the extent that the mentioned thresholds are met. 

 


[1] 1 Euro = 4,09 TRY according to the exchange rate of the Central Bank of the Republic of Turkey as of 25.01.2017