The Turkish Competition Board rules that the existence of a casting vote should not hinder the acquisition of indirect joint control over a company in the healthcare sector (PSPIB / Partners Group)

“The Turkish Competition Board (“ Board ”) unconditionally approved the transaction concerning the acquisition of joint control over Cerba Healthcare (“ Cerba ”) by Public Sector Pension Investment Board (“ PSPIB ”) and Partners Group AG (“ Partners Group ”). To that end, the Board resolved that a casting vote bestowed upon a single parent company does not automatically result in a sole control structure and the scope and effectiveness of such casting vote should be assessed to determine the control structure. This case summary covers an analysis of the Board’s PSPIB/Partners Group decision [1] which involves a transaction resulting in the acquisition of joint control over Cerba ultimately by PSPIB and Partners Group. The Board indicated that after the consummation of the envisaged transaction

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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 rules that the existence of a casting vote should not hinder the acquisition of indirect joint control over a company in the healthcare sector (PSPIB / Partners Group), 28 February 2017, e-Competitions Bulletin February 2017, Art. N° 91455

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