Communiqué (Communiqué No: 2022/2) (“Communiqué”) Amending the Communiqué on Mergers and Acquisitions (Communiqué No: 2010/4) (“Communiqué No: 2010/4”) Requiring Permission from the Competition Board has been published in the Official Gazette dated 04.3.2022 and numbered 31768.
With the Communiqué, the turnover thresholds based on the notification in terms of merger and acquisition transactions have been updated. The limit of 100,000,000 TL in subparagraph (a) of the first paragraph of Article 7 of the Communiqué No 2010/4 has been updated as 750,000,000 TL, the limit of 30,000,000 TL has been updated as 250,000,000 TL, the limit of 30,000,000 TL in subparagraph (b) has been updated as 250,000,000 TL, and the 500,000,000 TL limit has been updated as 3,000,000,000 TL.
With the Communiqué, the definition of “technology entities” was introduced and an additional notification obligation was introduced in terms of transactions in which these entities are subject to transfer. With the respective Regulation, it is aimed that the transactions regarding the acquisition of technology entities will be subject to the supervision of the Competition Authority and to prevent killer acquisitions of the mentioned entities.
Regarding the notification of mergers and acquisitions, it is planned to reduce the paperwork burden in notifications by adding the phrase “or via e-Government” to the second paragraph of Article 10 of the Communiqué No. 2010/4, after the phrase “by hand or by mail”.
The Communiqué will enter into force two months after its publication in the Official Gazette, meaning as of 4 May 2022.
You can access the full Turkish text of the Communiqué from the link below.
https://www.resmigazete.gov.tr/eskiler/2022/03/20220304-4.htm
