This case summary concerns an analysis of the Board’s Valeo/FTE Group decision,  pertaining to the acquisition of sole control over FTE Group Holding GmbH (“FTE Group”) by Valeo Holding GmbH (“Valeo Germany”). The Board resolved that the transaction would result in a horizontally affected market in Turkey, in which the parties had relatively high market shares. Upon its detailed review of the case at hand, the Board conditionally approved the transaction, based on and subject to the commitments submitted by Valeo S.A. (“Valeo”) before the European Commission (“Commission”), concluding that the commitments would address any plausible Turkey-specific competition law concerns. Background The transaction was found to result in a horizontal overlap between the Turkey-related activities of
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