This case summary concerns an analysis of the Turkish Competition Board’s (“Board”) IGA Akaryakıt/THY/Total/Zirve decision, in which the Board evaluated the acquisition of joint control over IGA Havalimanı Akaryakıt Hizmetleri A.Ş.’s (“IGA Akaryakıt”) shares by Türk Hava Yolları A.O. (“THY”), Total Oil Türkiye A.Ş. (“Total”), and Zirve Holding A.Ş. (“Zirve”) through a capital increase, which would result in joint control over IGA Akaryakıt by THY, Total, and Zirve, along with the existing shareholder, CMLKK Liman Isletmesi A.Ş. (“Liman A.Ş.”). Although acknowledging that the transaction would result in the creation or strengthening of a dominant position in some of the relevant product markets in Turkey, the Board unconditionally approved the transaction by concluding that, the transaction would not lead to a
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