I Introduction On July 29, 2019 a complaint was brought to the Turkish Competition Authority’s (“Authority”) attention, which alleged that certain undertakings operating in the welding sector acted together and subsequently violated the Law No. 4054 on the Protection of Competition (“Law No. 4054”). The complaint claimed the following: As per the Turkish Commercial Registry Gazette’s announcement on July 11, 2019, 33.71% and 15.86% of Kaynak Tekniği Sanayi ve Ticaret A.Ş.’s (“ASKAYNAK”) shares, held by Eczacıbaşı Holding A.Ş. and Eczacıbaşı Yatırım Holding A.Ş. (together, “ECZACIBAŞI GRUBU”) respectively, had been acquired by Lincoln Electric France S.A.S. (“LINCOLN”). Following this acquisition, LINCOLN now owned 99.57% of ASKAYNAK’s shares in total, together with its previously owned 50% shareholding;21%
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