The Turkish Competition Authority clears a merger in the construction sector subject to limitations on bidding in future tenders (Koç / Garanti Koza)

The operation Prior to the transaction, 98.34% of the shares of Garanti Koza were being held by Koc Group companies. The Parties entered into a Shareholders' Agreement (the “Shareholders' Agreement”) on June 01, 2000 whereby Koc Group agreed to sell to Balfour and Balfour agreed to purchase and transfer a shareholding representing 49.177096% of the total share capital of Garanti Koza from Koc Group. As a result of the transaction, the Parties had joint control over Garanti Koza, which was later renamed as Garanti Balfour Beatty Insaat Sanayi ve

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Zümrüt Esin, The Turkish Competition Authority clears a merger in the construction sector subject to limitations on bidding in future tenders (Koç / Garanti Koza), 30 August 2000, e-Competitions August 2000, Art. N° 21906

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