The Turkish Competition Board prohibits a merger in the shipping market despite remedies offered by the merging parties (UN Ro-Ro / Ulusoy)

The Competition Board (“Board”), in its decision dated 9.11.2017 and numbered 17-36/595-259 (“Decision”) [1], has rejected the acquisition of the full shares of Ulusoy Deniz Taşımacılığı A.Ş., Ulusoy Gemi İşletmeleri A.Ş., Ulusoy Ro-Ro İşletmeleri A.Ş., Ulusoy Ro-Ro Yatırımları A.Ş., Ulusoy Gemi Acenteliği A.Ş., Ulusoy Lojistik Taşımacılık ve Konteyner Hizmetleri A.Ş. ve Ulusoy Çeşme Liman İşletmesi A.Ş. (“Ulusoy”) by UN Ro-Ro İşletmeleri A.Ş. (U.N. Ro-Ro”) in accordance with Art. 7 of Act No. 4054 on the Protection of Competition (“Competition Act”). Parties to the Transaction Pursuant to the information examined by the Board, the acquiring party, UN Ro-Ro was acquired by Kohlberg Kravis & Roberts in 2007, and began to be jointly controlled by Actera Partners II L.P. (“Actera”) and Esas Holding A.Ş. in 2014. UN Ro-Ro

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Ercüment Erdem, The Turkish Competition Board prohibits a merger in the shipping market despite remedies offered by the merging parties (UN Ro-Ro / Ulusoy), 9 November 2017, e-Competitions Bulletin November 2017, Art. N° 86765

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