Wednesday, June 6, 2012
Posted by D. Daniel Sokol
Bekir Kocabas & Sinan Bozkus (Turkish Competition Authority) describes New Developments in Merger Control in Turkey.
ABSTRACT: Turkish merger control regime has undergone a fundamental reform with the entrance of the new "Communique Concerning the Mergers and Acquisitions Calling for the Authorization of the Competition Board ("Communique No. 2010/4" or the "New Communique")" in to force on January 1, 2011. This communiqué replaced its predecessor ("Communique No. 1997/1" or the "Former Communique") that had been applied without any significant change since November 1997. Then, "Guidelines on Undertakings Concerned, Turnover and Ancillary Restraints in Mergers and Acquisitions" and "Guidelines on Remedies that are Acceptable by the Turkish Competition Authority in Merger/Acquisition Transactions" also became effective in 2011.
Communique No. 2010/4 made important contributions to Turkish merger regime by changing notification thresholds and forms, changing assessment of joint ventures and ancillary restraints, providing a legal basis for consideration of efficiency gains, and accepting commitments as remedies in merger analysis. This short paper aims to explain the main changes in notification thresholds and their first results.