The Turkish Competition Board assesses the creation of two separate joint ventures by four companies and decides that it is necessary that a merger control review be completed (GE / Sumitomo / Shikoku / Sharjah / Projectco / O&MCO)

The Turkish Competition Board (" Board ") assessed the creation of two separate JVs by General Electric Company (" GE "), Sumitomo Corporation (" Sumitomo "), Shikoku Electric (" Shikoku "), and Sharjah Asset Management Holding (“ Sharjah ”) for the wholesale trade of electric and the generation of electric in the United Arab Emirates. Further to its substantial assessment, the Board decided that the transaction requires a mandatory merger control review even though the joint ventures (" JVs ") are not active in Turkey and the parent companies are not active in the business areas in which the JVs are active in the United Arab Emirated (" UAE "). The Board approved and granted unconditional approval to the transaction by concluding that

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Authors

  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)
  • ELIG Gürkaynak Attorneys-at-Law (Istanbul)

Quotation

Gönenç Gürkaynak, Esra Uçtu, The Turkish Competition Board assesses the creation of two separate joint ventures by four companies and decides that it is necessary that a merger control review be completed (GE / Sumitomo / Shikoku / Sharjah / Projectco / O&MCO), 17 October 2018, e-Competitions Bulletin October 2018, Art. N° 91503

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