The Turkish Competition Authority unconditionally clears a joint-control acquisition in the market for domestic and international freight services (Kerry Logistics / Asav)

This case summary concerns an analysis of the Board’s Kerry Logistics/Asav HoldCo decision, [1] where the Board, by taking into consideration the parties’ intention with regards to the acquisition of sole control, evaluated whether or not to tolerate an interim joint control period that would exceed one year in duration. The Board ultimately deemed the relevant transaction to constitute one single transaction concerning the acquisition of sole control over Asav Lojistik Hizmetleri A.Ş.(“Asav HoldCo”) by Kerry Logistics Central Europe GMBH (“Kerry Logistics”). Background Kerry Logistics is a subsidiary of Kerry Logistics Network Limited (“Kerry Network”), whose core businesses encompass integrated logistics, international freight forwarding, express, supply chain solutions, seaport