The Turkish Competition Board clears in Phase I a merger in the automobile sector and enlarged the interpretation of “control” by referring to the notion of “negative control” and “negative sole control” (Chrysler/Fiat Merger)

The Turkish Competition Board (“CB”), in its decision numbered 09-31/678-159, dated July 1st, 2009, authorized the acquisition of Chrysler LLC (“Chrysler”) by Fiat S.p.A (“Fiat”), which has taken over all the activities of the Chrysler Group. Operation The acquisition is twofold : Acquisition of 20% of Chrysler's shares by Fiat at the first stage (optional acquisition of 16% and 15% if certain actions are taken) Fiat will support the Chrysler Group in various technology and management services and collaborate with Chrysler Group in key fields such as supply and distribution. The operation will also give Fiat the right to veto important board of directors' decisions. Relevant Market The CB,

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Ercüment Erdem, The Turkish Competition Board clears in Phase I a merger in the automobile sector and enlarged the interpretation of “control” by referring to the notion of “negative control” and “negative sole control” (Chrysler/Fiat Merger), 1 July 2009, e-Competitions Bulletin Automobile, Art. N° 29103

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