By way of taking into account another transaction realized by the same acquirer within the same relevant product market previously, the Turkish Competition Board (“ Board ”) resolved that the contemplated transaction is subject to a mandatory merger control filing, although it does not satisfy the jurisdictional turnover thresholds on a stand-alone basis. This case summary concerns an analysis of the Turkish Competition Board’s Mikro/Zirve decision [1] in which the Board evaluated the acquisition of Zirve Bilgi Teknolojileri Sanayi Ticaret A.Ş. (“ Zirve ”) ultimately by Turkish Private Equity Fund III (“TPEF III”) via Mikro Yazılımevi Yaz. Hiz. Bilg. San. Tic. A.Ş. (“ Mikro ”). The Board resolved that the transaction indeed required a mandatory merger control filing before the Turkish Competition
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The Turkish Competition Board approves acquisition of IT company subject to a mandatory merger control despite the fact that the transaction does not satisfy the jurisdictional turnover thresholds on a stand-alone basis (Zirve / Mikro)
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