The Turkish Competition Board holds that the indirect changes on the shareholding structures of two companies do not constitute concentrations and grants, therefore, negative clearance to the transaction (Turkland / Groupmed)

The Turkish Competition Board (“ Board ”) resolved that the transaction would not be deemed as a concentration requiring mandatory merger control filing before the Turkish Competition Authority (the “ Authority ”), given that the transaction would result in shifting alliances. To that end, the Board granted negative clearance to the transaction. This case summary concerns an analysis of the Board’s Turkland/Groupmed decision [1] which concerns a transaction resulting in indirect changes on the shareholding structures of Turkland Sigorta A.Ş. (“ Turkland ”) and Groupmed Sigorta Acenteliği A.Ş. (“ Groupmed ”). The Board resolved that the transaction does not qualify as a concentration requiring a mandatory merger control filing under Turkish merger control regime due to the control structures of

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Authors

  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)
  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)

Quotation

Gönenç Gürkaynak, Onur Özgümüş, The Turkish Competition Board holds that the indirect changes on the shareholding structures of two companies do not constitute concentrations and grants, therefore, negative clearance to the transaction (Turkland / Groupmed), 27 August 2018, e-Competitions Bulletin August 2018, Art. N° 91499

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