The Turkish Competition Board (the "Board") recently (on 9 April 2012) made public its reasoned clearance decision on the merger of the two major cinema chains in Turkey namely Mars Sinema Turizm ve Sportif Tesisler Isletmeciligi A.S. ("Mars Sinema") and AFM Uluslararasi Film Produksiyon Ticaret ve Sanayi A.S. ("AFM"). These companies operate numerous cinemas located in different cities in Turkey. Following its preliminary evaluation, the Board initiated second phase investigations in light of fears that the proposed transaction (as defined below) could raise competition concerns. The clearance decision was rendered on 17 November 2011, subject to the remedies submitted by the parties. The transaction The merger clearance comprises two transactions. With the first transaction, Mars
The Turkish Competition Authority approves a merger in the movie services market, subject to remedies (Mars / AFM Case)
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