The Turkish Competition Board decides to grant conditional approval to a transaction based on the commitments offered by the acquiring company after evaluating the parties’ market positions and potential anticompetitive concerns (Bekaert / Pirelli)

The Turkish Competition Board's (the " Board ") assessed the transaction concerning the acquisition of Pirelli Tyre SpA’s (“ Pirelli ”) steel tire cord business by NV Bekaert SA (" Bekaert ") in Turkey. During the Phase II review, the Board evaluated the parties’ market position and the potential anticompetitive concerns which may occur upon the completion of the transaction. In order to resolve the Board’s concerns, Bekaert provided a set of behavioural remedies related to the protection of local customers through supply agreements. The Board decided to grant a conditional approval to the transaction based on the commitments offered by Bekaert. This case note analyses the board’s Bekaert/Pirelli decision, dated 22 January 2015 and numbered 15-04/52-25, on the transaction concerning the

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Authors

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

Quotation

Gönenç Gürkaynak, Esra Uçtu, The Turkish Competition Board decides to grant conditional approval to a transaction based on the commitments offered by the acquiring company after evaluating the parties’ market positions and potential anticompetitive concerns (Bekaert / Pirelli), 22 January 2015, e-Competitions Bulletin January 2015, Art. N° 91501

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