ELIG Gürkaynak Attorneys-at-Law > Istanbul, Turkey > Firm Profile

ELIG Gürkaynak Attorneys-at-Law
CITLENBIK SOKAK NO: 12
YILDIZ MAH, BESIKTAS
34349 ISTANBUL
Turkey

Turkey > Competition Tier 1

ELIG Gürkaynak Attorneys-at-Lawhas gathered a team of exceptional experts in the fields of competition law‘ to establish itself as the standout practice in the market. Its latest three arrivals, counsels Ebru İnce and Harun Gündüz, as well as senior associate Çiğdem Gizem Okkaoğlu, all have professional experience working at the Turkish Competition Authority (TCA), and join a team led by the firm’s founding partner Gönenç Gürkaynak, one of the foremost names in the field, with ‘deep knowledge of the regulator’s practice and decisions‘. It is routinely involved in some of the most significant investigations before Turkish and European courts, as well as merger control filings and advice on transactions, all for a base of blue-chip clients. Senior associate Dilara Yeşilyaprak is an experienced advisor on regulatory matters. Counsel Barış Yüksel  left the firm in October 2021.

Practice head(s):

Gönenç Gürkaynak

Other key lawyers:

Korhan Yıldırım; Öznur İnanılır; Eda Duru; Onur Özgümüş; Ebru İnce; Dilara Yeşilyaprak

Testimonials

‘Gönenç Gürkaynak is an outstanding practitioner, with deep knowledge of the regulator’s practice and decisions.’

‘Having opinions and advice from ELIG Gurkaynak Law Firm provides us the confidence to solve our problems since we know that they are experienced in this market as they can keep up with the regulations and practice, and also, their communications with the administrative authorities are excellent.’

‘Responsive, despite time-zone issues, and willing to take feedback and find business friendly approaches. Gönenç Gürkaynak seems particularly client oriented.’

‘Working with Gönenç Gurkaynak & Öznur Inanilir is a comfort for us considering their experience in the field and great dispute resolution skills. The complicated dispute resolution matters or competition matters can be solved easily due to their intelligence and ability to deal with the legal problems. They are great at specific regulations related to the competition matters and always into the daily matters and never miss to inform us regarding the crucial legal developments.’

‘ELIG has gathered a team of exceptional experts in the fields of competition law, including former members of the TCA. Their combined experience is unique compared to other law firms in Turkey.’

‘Gönenç Gürkaynak is the most responsive senior partner I know. He takes care of the clients’ needs personally and you always have the good feeling that your matter is in good hands.’

‘Knowledgeable team that can navigate complex and unprecedented issues. Also trains junior lawyers well.’

‘Best in class law firm on competition law related matters in Turkey, with biggest in size and most competent team.’

Key clients

3M San. ve Tic.

Akçansa Çimento Sanayi ve Ticaret

Allianz Sigorta

Allied Universal Topco

Associated British Foods

AstraZeneca

Alexion Pharmaceuticals

Bain Capital Investors

Bayer CropScience Schweiz

Booking.com

Bytedance

Cargotec

Çimentaş İzmir Çimento Fabrikası Türk

Çimsa Çimento Sanayi ve Ticaret

Cinven Capital Management (VII) General Partner

Derichebourg Environnement

Discovery

Digital Turbine

DSV Panalpina

Edenred Türkiye Kurumsal Çözümler

General Electric Company

Google

GrandVision

Gruma DE

Hapag-Lloyd

India Glycols

Konecranes

London Stock Exchange

L’Oréal Türkiye Kozmetik Sanayi ve Ticaret

Matlı Yem Sanayi ve Ticaret

Medcem Beton Üretim Pazarlama Sanayi ve Ticaret Anonim Şirketi

Medcem Madencilik ve Yapı Malzemeleri San. ve Tic

Merck Sharp Dohme İlaçları

Mutlu Akü ve Malzemeleri Sanayii Anonim Şirketi

Pacific Investment Management Company

Pfizer İlaçları

S.F. Holding

Société Générale

Tiktok Turkey Dijital Medya ve Reklam

Türkiye Çimento Müstahsilleri Birliği (Turkish Cement Manufaturers’ Association)

Unifrax Holding Co.

Universal City Studios Productions

Varian Medical Systems

Warner Bros Turkey Film Limited Şirketi

Warner Bros. Home Entertainment

Work highlights

  • Assisted London Stock Exchange Group with the merger control filing for its acquisition of sole control over Refinitiv Holdings’ business.
  • Advised Peugeot on merger control approval for its merger with Fiat Chrysler Automobiles, forming Stellantis.
  • Acted for Alexion Pharmaceuticals and AstraZeneca in the merger control process of the acquisition of sole control over Alexion Pharmaceuticals by AstraZeneca.

Turkey > Compliance Tier 1

Strong offerings in anti-corruption and data protection matters combine with ELIG Gürkaynak Attorneys-at-Law‘s standout competition practice to give a rounded service in compliance across the board. Clients include Google Youtube and Twitter, with technology being a standout sector. Banking and finance is also an area in which the team is seeing an increased number of instructions. Experienced figurehead of the firm, Gönenç Gürkaynak is recognised as a leading figure in competition law compliance and wider contentious regulatory matters. He jointly heads the practice with Ceren Yıldız, who focuses on regulatory matters in the pharmaceutical and e-commerce sectors.

Practice head(s):

Gönenç Gürkaynak; Ceren Yıldız

Key clients

Google

YouTube

Twitter

Ralph Lauren Europe

Turkey > Media and entertainment Tier 1

The team at ELIG Gürkaynak Attorneys-at-Law brings its ‘exceptional knowledge and experience‘ to bear in a variety of contentious and non-contentious matters for its strong client base of media and technology companies. Matters relating to the social media space and its fluid regulatory framework are a notable strength of the practice and data protection advice is also an important component of its support to clients. Founding partner and experienced litigator Gönenç Gürkaynak co-leads the department alongside regulatory compliance expert Ceren Yıldız and Tolga Uluay, whose strengths lie in dispute resolution.

Practice head(s):

Gönenç Gürkaynak; Ceren Yıldız; Tolga Uluay

Testimonials

‘ELIG have extensive knowledge and expertise in working with technology companies, and they are swift and responsive when their help and support is needed. Their customised approach to their clients makes it easier to collaborate. They are open to innovations and new approaches implemented by the clients.’

‘The individuals we are working with provide a general opinion on the big picture as well as detailed information on particular day-to-day matters. This has increased our trust in their vision and legal guidance.’

‘ELIG’s team has exceptional knowledge and experience in the sector, which helps us to navigate through the rough legal terrain in the jurisdiction without suffering. They never hesitate to go the extra mile to make our work easier and they are very good at delivering high-quality legal work in short periods of time. Gönenç Gürkaynak and Ceren Yıldız stand out for media and entertainment matters.’

‘They have been very helpful in navigating tech law issues in Turkey for us, especially advising us on how to reply to takedown notices.’

‘They are responsive and thorough.’

Key clients

Google

Google Bilgi Teknolojileri

Twitter

Google Reklamcılık ve Pazarlama

Wikimedia Foundation

WordPress

Motion Picture Association

Warner Bros

Work highlights

  • Assisting Twitter with newly introduced Turkish social network regulations, and the establishment of a local Twitter representative.
  • Advising Google on the implementation of newly introduced regulations on non-affiliation from search engines and the right to be forgotten.
  • Representing Wikimedia in its pending ECHR case regarding the access ban implemented in Turkey.

Turkey > Dispute resolution Tier 2

ELIG Gürkaynak Attorneys-at-Law‘s dispute resolution practice is active across a wide range of contentious matters, from commercial disputes, to IP litigation, to competition law and other administrative law cases. A key name for competition matters, the team is also noted for its experience in contentious IP and internet law-related disputes. The ‘very talentedGönenç Gürkaynak jointly heads the department with experienced litigator Tolga Uluay.

Practice head(s):

Gönenç Gürkaynak; Tolga Uluay

Testimonials

‘The practice is very well organized and there is excellent internal communication between staff.’

‘All documents were easily available via google drive as well as summary documents being shared via email.’

‘Incredibly engaged with the customer, very prompt with email replies.

‘They know the law, they are very passionate for the customer’s case and certainly put 110% effort into the response and provide a considered opinion on all questions.’

Tolga Uluay was very responsive, even during weekends in Turkey. Excellent organizational skills and certainly felt he was giving 110%. I could not have asked for more from a lawyer.’

‘Gönenç Gürkaynak, the practice lead, is a very talented lawyer.’

‘ELIG team is very experienced in intellectual property and internet law related disputes. They understand and consider company and/or product specific sensitivities, while rendering legal advice on our disputes and representing us before the courts.’

‘Gönenç Gürkaynak and Tolga Uluay not only provide pure legal advice but also contribute to and support us in establishing strategies for management of legal risks in our disputes.’

Key clients

Havaş

Travelex

Anheuser-Busch InBev SA/NV

Newell

Booking.com B.V.

3M Company

L’Oréal

Henkel

Tinmar

Alcon Laboratuvarları Ticaret A.Ş.

Twitter Inc.

Medtronic

Turkish Airlines

TÜSİAD (Turkish Industrialists’ and Businessmen’s Association)

Wikimedia

Mercedes

YouTube LLC

Mutlu Akü

Philip Morris

TI Automotive

Work highlights

  • Representing Booking.com in a lawsuit where it is claimed the client is acting as a travel agency without complying with any of the obligations that being a travel agency entails and thus creates unfair competition.

Turkey > IT and telecoms Tier 2

The ‘accurate, efficient and responsive‘ team at ELIG Gürkaynak Attorneys-at-Law counts Google, YouTube and Twitter among its long-term heavyweight clients in the technology industry. While cross-border data protection and privacy matters in the TMT space are a particular strength, the firm offers comprehensive cross-practice support to its clients in these industries. Gönenç Gürkaynak and Ceren Yıldızare very good at reading the regulatory atmosphere‘ and share the department leadership duties.

Practice head(s):

Gönenç Gürkaynak; Ceren Yıldız

Testimonials

‘ELIG’s team is great at understanding complex technical issues and delivering the required legal analysis and support.’

‘Gönenç Gürkaynak and Ceren Yıldız are very good at reading the regulatory atmosphere and guiding us to the safest legal path.’

‘The firm stands out for its data privacy expertise.’

‘They are accurate, efficient and responsive.’

Key clients

Google

Google Reklamcilik ve Pazarlama

Google Ireland

YouTube

Twitter

Booking.com

Foursquare Labs

LinkedIn

Wikimedia Foundation

Ralph Lauren Europe

Work highlights

  • Assisted Google with the launch of its Wear OS expansion in Turkey, including regulatory and data protection issues.

Turkey > Commercial, corporate and M&A Tier 4

ELIG Gürkaynak Attorneys-at-Law‘s practice is jointly led by competition specialist Gönenç Gürkaynak and Nazlı Nil Yukaruç, who focuses on transactional matters. The group covers the full range of M&A and is also sought after for corporate governance matters. It is able to draw on the wider firm’s expertise to handle regulatory matters and disputes. Clients are drawn from a wide variety of industries, particularly retail and manufacturing.

Practice head(s):

Gönenç Gürkaynak; Nazlı Nil Yukaruç

Testimonials

‘The people who work for this company always double down 200% – they are always focused on the result. Not just one company representative is involved in the issue, but the entire team – any one of them is willing to support the issue if anyone is missing – a strong team spirit is immediately noticeable.’

‘ELIG team is quite easy to work with both in project based and day-to-day legal work. They are always providing spot-on guidance and covering our back with their on time recommendations and reminders, when needed.’

‘Nazlı Nil Yukaruç is excellent in communicating complex corporate requirements and actioning items in an easily comprehensible manner.’

‘Nazli Yukaruc and her team were professional and well organized. Assuming great responsibilities to lead the legal matter all along, keep us informed and give us appropriate heads up of the process.’

‘They meet their deadlines. We receive timely responses. We receive end to end high quality services because they are solution oriented and they are focused on finalizing the tasks’

‘Experienced, driven mentality and polite personality.’

‘Strong across multiple disciplines. Consistently responsive and commercial in approach.’

‘Our project was assigned to Nazlı Nil Yukaruç. She was explaining every step to be taken towards completing the project, sharing the required documents in advance for review and comments. She was reachable by phone at anytime to explain ambiguous points or to provide a quick update.’

Key clients

L’Oréal

Google Ireland and Google Reklamcılık

Ralph Lauren

Knauf Insulation

Warner Bros

CA Technologies (a Broadcom company)

OCP

Tetra Pak

TI Automotive

Twitter

TRB

Harvard Business School

Bentley Systems

Medtronic

Work highlights

  • Advised Warner Bros during a share capital increase process.

Turkey > Intellectual property Tier 4

As part of its cross-practice offering in IT and telecoms, corporate law and dispute resolution, ELIG Gürkaynak Attorneys-at-Law assists multinationals with various IP issues; Google is a standout client for which the team handles a range of matters. Leadership of the IP practice is divided between three experienced partners with strengths in disputes and regulatory work: founding partner Gönenç Gürkaynak, compliance expert Ceren Yıldız and disputes lawyer Tolga Uluay.

Practice head(s):

Gönenç Gürkaynak; Ceren Yıldız; Tolga Uluay

Key clients

Google LLC

Google Reklamcilik ve Pazarlama

Google Ireland

Google Bilgi Teknolojileri

Twitter

Automattic

Warner Bros

Rolls-Royce

YouTube

Foursquare Labs

Work highlights

  • Acted for Google in the trade mark registration of “GOOGLE PLAY” before the Turkish Patent and Trademark Office.
  • Assisted Google with the opposition to several third-party trade mark applications.

The firm: ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The firm was founded in 2005.  ELIG Gürkaynak is committed to providing its clients with high-quality legal services and combines a solid knowledge of Turkish law with a business-minded approach to develop legal solutions that meet the ever-changing needs of its clients in their international and domestic operations.

ELIG Gürkaynak has established close working relationships with a number of international law firms and has served mutual clients on numerous mergers and acquisitions transactions, competition law matters, commercial arbitrations and various other projects. The firm also has formal alliances with two Turkish law firms in Ankara and Izmir.

Areas of practice: ELIG Gürkaynak takes pride in being able to assist its clients in all fields of law.  The firm’s legal team consists of 95 lawyers.

The firm’s particular areas of expertise include competition law, corporate law, mergers and acquisitions, contracts law, anti-corruption, white-collar irregularities and compliance, Internet law, technology, media and telecommunications law, data protection and cybersecurity law, banking and finance law, litigation and dispute resolution, administrative law, real estate law, anti-dumping law, pharma and healthcare regulatory, employment law and intellectual property law.

ELIG Gürkaynak delivers the top competition law practice in Turkey with 52 competition law specialists. The team is led by Mr Gönenç Gürkaynak, ELIG Gürkaynak’s founding partner, along with four partners and nine counsel. In addition to its unparalleled experience in merger control issues, ELIG Gürkaynak has vast experience in defending companies before the Turkish Competition Board in all phases of antitrust investigations, abuse of dominant position cases, leniency handlings and before the courts on issues of private enforcement of competition law, along with appeals of the administrative decisions of the Turkish Competition Authority.

Unlike many firms in Turkey, ELIG Gürkaynak has a recognised and significant practice in IT and telecommunications law. The practice covers domain name disputes, website agreements, internet copyright and internet trademarks, internet-related litigation, regulatory counselling, notice and takedown or judiciary decision enforcement assistance and localisation of telecom agreements and licenses to be signed with carriers.

ELIG Gürkaynak has a significant practice in Turkey, focusing on internal investigations and white-collar criminal matters. Among other things, the practice advises clients in connection with Turkish corporate compliance issues under the relevant OECD Convention, FCPA, the UK Bribery Act and Turkish anti-corruption laws. This includes all matters relating to data privacy, employment law, anti-corruption policies and other related aspects of the Turkish legal regime.

ELIG Gürkaynak’s corporate team assists multinational and domestic clients by providing a wide range of corporate advisory services.  The firm represents local and multinational conglomerates in numerous M&A projects, and the M&A team has vast experience and capability in handling multiple and significant M&A transactions, reorganisations, joint ventures and spin-offs. The firm’s corporate team has a solid practice in providing commercial and corporate law services to corporations, advising foreign clients during their entry to the Turkish market, and on daily operations thereafter.

ELIG Gürkaynak handles complex intellectual property matters, each one of which sets a precedent in the market. ELIG Gürkaynak’s intellectual property team provides clients with a complete range of legal services for protecting and exploiting all types of intellectual property and technology assets. The firm’s dedicated team of three partners and two counsel along with twelve associates also offer invaluable knowledge and track record in other practice areas where they are pioneers.

The firm renders a wide variety of litigation and arbitration services. The firm specialises and has very significant expertise in debt enforcement.

ELIG Gürkaynak also has a strong practice in administrative law. Mr Gönenç Gürkaynak heads the practice, which has grown significantly due to representations in numerous appeals.

DepartmentNameEmailTelephone
Anti-corruption and compliance Gönenç Gürkaynak
Banking and finance Nazlı Nil Yukaruç
Competition and EU law Gönenç Gürkaynak
Competition and EU law K Korhan Yıldırım
Competition and EU law Öznur Inanilir
Competition and EU law Dr Ekrem Kalkan
Competition and EU law Eda Duru
Corporate and commercial Gönenç Gürkaynak
Corporate and commercial Nazlı Nil Yukaruç
Data protection and cybersecurity Gönenç Gürkaynak
Dispute resolution and arbitration Gönenç Gürkaynak
Dispute resolution and arbitration Ceyda Karaoglan Nalçaci
Dispute resolution and arbitration Tolga Uluay
IT and telecommunications Gönenç Gürkaynak
Intellectual property Gönenç Gürkaynak
Litigation, administrative law Gönenç Gürkaynak
Litigation, administrative law Ceyda Karaoglan Nalçaci
Litigation, administrative law Tolga Uluay
Media and entertainment Gönenç Gürkaynak
Mergers and acquisitions Nazlı Nil Yukaruç
Pharma and healthcare regulatory Gönenç Gürkaynak
Pharma and healthcare regulatory Ceren Yıldız
Competition and EU law O. Onur Özgümüş
Anti-corruption and compliance Ceren Yıldız
Corporate and commercial Ceren Yıldız
Litigation, administrative law Tuğba Uluay
Dispute Resolution and arbitration Tuğba Uluay
Number of lawyers : 95
English
French
German
IBA
ABA
UIA
ICC
SRA
Contact : Gönenç Gürkaynak LLM (Founding Partner)

Merger control regime in Turkish competition law

(1) Introduction

On March 4, 2022 the Turkish Competition Authority (“Authority”) published the Communiqué No. 2022/2 on the Amendment of Communiqué No. 2010/4 on the Mergers and Acquisitions Subject to the Approval of the Competition Board (the “Amendment Communiqué”). The Amendment Communiqué introduced certain new rules concerning the Turkish merger control regime, which fundamentally affect merger control notifications submitted to the Authority.

Pursuant to Article 7 of the Amendment Communiqué, the changes introduced by the Amendment Communiqué became effective as of May 4, 2022. One of the most significant developments that the Amendment Communiqué entails, inter alia, is the increase of the applicable turnover thresholds for the concentrations that require mandatory merger control filing before the Authority and the introduction of threshold exemption for undertakings active in certain markets/sectors.

(2) New Thresholds Introduced by the Amendment Communique

Further to the Amendment Communiqué, as of May 4, 2022, a transaction will be required to be notified before the Authority; if one of the following increased turnover thresholds is met:

a) The aggregate Turkish turnover of the transaction parties exceeding TL 750 million (approx. EUR 71.9 million or USD 84.9 million) and the Turkish turnover of at least two of the transaction parties each exceeding TL 250 million (approx. EUR 23.9 million or USD 28.3 million), OR

b) (i) The Turkish turnover of the transferred assets or businesses in acquisitions exceeding TL 250 million (approx. EUR 23.9 million or USD 28.3 million) and the worldwide turnover of at least one of the other parties to the transaction exceeds TL 3 billion (approx. EUR 287.9 million or USD 339.7 million), or (ii) the Turkish turnover of any of the parties in mergers exceeding TL 250 million (approx. EUR 23.9 million or USD 28.3 million) and the worldwide turnover of at least one of the other parties to the transaction exceeds TL 3 billion (approx. EUR 287.9 million and USD 339.7 million).

Accordingly, the Amendment Communiqué increased the previous turnover thresholds of (i) 30 million Turkish Liras (approx. EUR 2.8 million or USD 3.3 million) to 250 million Turkish Liras (approx. EUR 23.9 million or USD 28.3 million), (ii) 100 million Turkish Liras (approx. EUR 9.5 million or USD 11.3 million) to 750 million Turkish Liras (approx. EUR 71.9 million or USD 84.9 million), and (iii) 500 million Turkish Liras (approx. EUR 47.9 million or USD 56.6 million) to 3 billion Turkish Liras (approx. EUR 287.9 million or USD 339.7 million).

Furthermore, the Amendment Communiqué introduced a threshold exemption for the undertakings active in certain markets/sectors. Pursuant to the Amendment Communiqué, “the TL 250 million Turkish turnover thresholds” mentioned above will not be sought for the acquired undertakings active in or assets related to the fields of digital platforms, software or gaming software, financial technologies, biotechnology, pharmacology, agricultural chemicals and health technologies (“Target Company(ies)”), if they (i) operate in the Turkish geographical market or (ii) conduct research and development activities in the Turkish geographical market or (iii) provide services to the users in the Turkish geographical market.

It is also noteworthy that the Amendment Communiqué does not seek a Turkish nexus in terms of the activities which render the threshold exemption. In other words, it would be sufficient for the Target Company to be active in the fields of digital platforms, software or gaming software, financial technologies, biotechnology, pharmacology, agricultural chemicals and health technologies anywhere in the world for the threshold exemption to become applicable, provided that the Target Company (a) generates revenue from customers located in Turkey OR (b) conducts R&D activities in Turkey OR (c) provides services to the Turkish users in any fields other than abovementioned ones. Accordingly, the Amendment Communiqué does not require (a) generating revenue from customers located in Turkey OR (b) conducting R&D activities in Turkey OR (c) providing services to the Turkish users concerning the fields listed above for the exemption on the local turnover thresholds to become applicable.

(3) The Sectors Exempted from the Use of Local Turnover Thresholds

To clarify the meaning and the scope of these sectors exempted from the use of local turnover thresholds, a non-exhaustive list of activities which correspond to the sectors referred to in the definition of the Amendment Communiqué is provided below. The below list reflects a mere effort to provide insight and guidance in identifying this scope, thus the list is not exhaustive:

a) Digital platforms: Digital platforms are systems and interfaces that form a commercial network or market facilitating business-to-business (B2B), business-to-customer (B2C) or even customer-to-customer (C2C) transactions. Digital platforms include but are not limited to social media platforms, knowledge sharing platforms, media sharing platforms, service-oriented platforms, online marketplaces and digital content aggregators.

b) Software and gaming software: Software relates to a set of instructions, data or programs used to operate computers and execute specific tasks, while gaming software concerns software customised for gaming. Software and gaming software include but are not limited to the activities below.

  1. writing and publishing of software and gaming software (including publishing of computer games) (NACE Rev. 2: 58.2)
  2. wholesale, retail sale, distribution and marketing of software (both customised and non-customised) and gaming software (NACE Rev. 2: 46.51, 47.41)
  3. reproduction from master copies of software (NACE Rev. 2: 18.2)
  4. manufacture of electronic games with fixed (non-replaceable) software (NACE Rev. 2: 32.40)
  5. translation or adaptation of software and gaming software (NACE Rev. 2: 58.29)
  6. computer programming activities (designing the structure and content of, and/or writing the computer code necessary to create and implement systems software (including updates and patches), software applications (including updates and patches), databases, web pages, customising of software (NACE Rev. 2: 62.01)
  7. software installation services (NACE Rev. 2: 62.09)

c) Financial technologies: Financial technologies refer to technology-enabled innovation in financial services. Undertakings which sit at the crossroads of financial services and technology fall into the scope of this definition. In brief, the term “financial technologies” is used to define software and other technology aiming to modify, enhance or automate financial services for businesses or consumers. Financial technologies include but are not limited to technologies and software developed for the following fields:

  1. financial services activities (monetary intermediation, financial leasing, other credit granting) (NACE Rev. 2: 64.1, 64.9)
  2. insurance, reinsurance, pension funding (NACE Rev. 2: 65)
  3. activities auxiliary to financial services, insurance and pension funding (administration of financial markets (futures commodity contracts exchanges, securities exchanges, stock exchanges, stock or commodity options exchanges), security and commodity contracts brokerage (dealing in financial markets on behalf of others (e.g. stock broking) and related activities, securities brokerage, commodity contracts brokerage, activities of bureaux de change etc.), risk and damage evaluation, activities of insurance agents and brokers, fund management activities, financial transaction processing and settlement, investment advisory activities, activities of mortgage advisers and brokers (NACE Rev. 2: 66)
  4. accounting, bookkeeping and auditing activities, tax consultancy (recording of commercial transactions from businesses or others, preparation or auditing of financial accounts, examination of accounts and certification of their accuracy, preparation of personal and business income tax returns, advisory activities and representation on behalf of clients before tax authorities) (NACE Rev. 2: 69.2)
  5. digital lending, payments, block chain and digital wealth management.

d) Biotechnology: Biotechnology refers to the technology that utilizes biological systems, living organisms or parts of this to develop or create different products. The sector includes but is not limited to the activities below:

  1. research and experimental development on biotechnology (NACE Rev. 2: 72.11)
    – DNA/RNA (genomics, pharmacogenomics, gene probes, genetic engineering, DNA/RNA sequencing/synthesis/amplification, gene expression profiling, and use of antisense technology)
    – proteins and other molecules (sequencing/synthesis/engineering of proteins and peptides (including large molecule hormones); improved delivery methods for large molecule drugs; proteomics, protein isolation and purification, signalling, identification of cell receptors)
    – cell and tissue culture and engineering (cell/tissue culture, tissue engineering (including tissue scaffolds and biomedical engineering), cellular fusion, vaccine/immune stimulants, embryo manipulation
    – process biotechnology techniques (fermentation using bioreactors, bioprocessing, bioleaching, biopulping, biobleaching, biodesulphurisation, bioremediation, biofiltration and phytoremediation
    – gene and RNA vectors: gene therapy, viral vectors)
    – bioinformatics (construction of databases on genomes, protein sequences, modelling complex biological processes, including systems biology)
    – nanobiotechnology (applies the tools and processes of nano/microfabrication to build devices for studying biosystems and applications in drug delivery, diagnostics etc.)
  2. manufacture of biotech pharmaceuticals such as plasma derivatives (NACE Rev. 2: 21.20)

e) Pharmacology: Pharmacology, a biomedical science, deals with the research, discovery, and characterization of chemicals which show biological effects and the elucidation of cellular and organismal function in relation to these chemicals. In other words, pharmacology refers to the science of how drugs act on biological systems and how the body responds to the drug. The study of pharmacology encompasses the sources, chemical properties, biological effects and therapeutic uses of drugs. Pharmacology includes but is not limited to the biomedical studies and R&D activities conducted in the areas below:

  1. Pharmacodynamics (relationship of drug concentration and the biologic effect (physiological or biochemical)
  2. Pharmacokinetics (interrelationship of the absorption, distribution, binding, biotransformation, and excretion of a drug and its concentration at its locus of action)
  3. Clinical Pharmacology and Therapeutics (understanding what a drug is doing to the body, what happens to a drug in the body, and how drugs work in terms of treating a particular disease)
  4. Pharmacotherapy (treatment of a disorder or disease with medication)
  5. Neuropharmacology (understanding how drugs affect cellular function in the nervous system)
  6. Pyscopharmacology (use of medications in treating mental disorders)
  7. Cardiovascular pharmacology (understanding how drugs influence the heart and vascular system)
  8. Molecular pharmacology (investigates the molecular mode of action of drugs, among others using genetic and molecular biology methods)
  9. Radiopharmacology (study and preparation of radioactive pharmaceuticals),
  10. Manufacture and R&D of pharmaceuticals (antisera and other blood fractions, vaccines, diverse medicaments, including homeopathic preparations), pharmaceutical preparations and medicinal chemicals (manufacture of medicinal active substances to be used for their pharmacological properties in the manufacture of medicaments: antibiotics, basic vitamins, salicylic and O-acetylsalicylic acids etc.); wholesale, retail sale, distribution and marketing of pharmaceuticals, pharmaceutical preparations and medicinal chemicals; growing of drug and narcotic crops (NACE Rev. 2: 21.1 and 21.2)

f) Agricultural chemicals: Agricultural chemicals refer to chemicals used in agriculture to control pests and disease or control and promote growth; such as pesticides, herbicides, fungicides, insecticides, and fertilizers. The sector includes but is not limited to the activities below:

  1. mining of chemical and fertiliser minerals (NACE Rev. 2: 08.91)
  2. support activities for other mining and quarrying (where it relates to agricultural chemicals and fertilizers) (NACE Rev. 2: 09.90)
  3. manufacture of fertilisers (straight or complex nitrogenous, phosphatic or potassic fertilisers; urea, crude natural phosphates and crude natural potassium salts), nitrogen compounds (nitric and sulphonitric acids, ammonia, ammonium chloride, ammonium carbonate, nitrites and nitrates of potassium) (NACE Rev. 2: 20.15)
  4. manufacture of organic and inorganic basic chemicals (where it relates to agricultural chemicals and fertilizers) (NACE Rev. 2: 20.13, 20.14)
  5. manufacture of pesticides and other agrochemical products (manufacture of insecticides, rodenticides, fungicides, herbicides, acaricides, molluscicides, biocides, manufacture of anti-sprouting products, plant growth regulators, manufacture of disinfectants (for agricultural and other use) (NACE Rev. 2: 20.2)
  6. wholesale, retail sale, distribution and marketing of fertilisers and agrochemical products (NACE Rev. 2: 46.75)

g) Health technologies: Health technologies are the application of organized knowledge and skills in the form of medicines, medical devices, vaccines, procedures and systems developed to solve a health problem and improve quality of life. They refer to any technology, including medical devices, IT systems, algorithms, artificial intelligence (AI), cloud and block chain, designed to support healthcare organizations and patients. Health technologies include but are not limited to technologies and software developed or being developed for the following fields:

  1. human health activities (hospital activities, medical (medical consultation and treatment) and dental practice activities (dentistry, endodontic and paediatric dentistry; oral pathology, orthodontic activities) (NACE Rev. 2: 86)
  2. residential healthcare activities (residential nursing care activities, residential care activities for mental retardation, mental health and substance abuse, residential care activities for the elderly and disabled) (NACE Rev. 2: 87)
  3. manufacture of medical and dental instruments (e.g. operating tables, examination tables, hospital beds with mechanical fittings, dentists’ chairs, surgical appliances) (NACE Rev. 2: 32.5)

If the Target Company’s activities fall into the above markets/sectors, the thresholds that would be applicable would be: “The aggregate Turkish turnover of the transaction parties exceeding TL 750 million (approx. EUR 71.9 million or USD 84.9 million)” or “the worldwide turnover of at least one of the other parties to the transaction exceeding TL 3 billion (approx. EUR 287.9 million or USD 339.7 million)”. Accordingly, when an undertaking that falls within the definition and criteria above is being acquired, the transaction would be notifiable if the aggregate Turkish turnover of the Target Company and the acquirer exceeds TL 750 million or the worldwide turnover of the acquirer exceeds TL 3 billion.

(4) Conclusion

The increased turnover thresholds and the exemption on the local turnover threshold mechanism introduced by the Amendment Communiqué alter the scope of the transactions that are notifiable to the Authority. On that note, the concentrations related to the fields of digital platforms, software or gaming software, financial technologies, biotechnology, pharmacology, agricultural chemicals and health technologies, will be scrutinized by the Authority.

COMPETITION

ELIG Gürkaynak Attorneys-at-Law delivers the top competition law practice in Turkey with 52 competition law specialists, out of a total of 95 lawyers at ELIG Gürkaynak. In addition to unparalleled experience in merger control issues, ELIG Gürkaynak has vast experience in defending companies before the Turkish Competition Board in all phases of antitrust investigations, abuse of dominant position cases, leniency handlings, and before courts on issues of private enforcement of competition law, along with appeals of the administrative decisions of the Turkish Competition Authority.

ELIG Gürkaynak represents multinational corporations, business associations, investment banks, partnerships and individuals in the widest variety of competition law matters, while also collaborating with many international law firms.

ELIG Gürkaynak has an in-depth knowledge of representing defendants and complainants in complex antitrust investigations concerning all forms of abuse of dominant position allegations, and all forms of restrictive horizontal and/or vertical arrangements, including price-fixing, retail price maintenance, refusal to supply, territorial restrictions and concerted practice allegations.

In addition to significant antitrust litigation expertise, the firm has considerable expertise in administrative law, and is well equipped to represent clients before the High State Court, both on the merits of a case and for injunctive relief. ELIG Gürkaynak also advises clients on a day-to-day basis in a wide range of business transactions that almost always contain antitrust law issues, including distributorship, licensing, franchising and toll manufacturing issues.

Competition law contact:

Mr. Gönenç Gürkaynak, Founding Partner
Tel: +90 212 327 1724
gonenc.gurkaynak@elig.com

For information, please go to http://www.elig.com

TURKEY

ELIG Gürkaynak Attorneys-at-Law delivers the top competition law practice in Turkey with 45 competition law specialists, out of a total of 90 lawyers at ELIG Gürkaynak.

In addition to unparalleled experience in merger control issues, ELIG Gürkaynak has vast experience in defending companies before the Turkish Competition Board in all phases of antitrust investigations, abuse of dominant position cases, leniency handlings, and before courts on issues of private enforcement of competition law, along with appeals of the administrative decisions of the Turkish Competition Authority.

ELIG Gürkaynak represents multinational corporations, business associations, investment banks, partnerships and individuals in the widest variety of competition law matters, while also collaborating with many international law firms.

ELIG Gürkaynak has an in-depth knowledge of representing defendants and complainants in complex antitrust investigations concerning all forms of abuse of dominant position allegations, and all forms of restrictive horizontal and/or vertical arrangements, including price-fixing, retail price maintenance, refusal to supply, territorial restrictions and concerted practice allegations.

In addition to significant antitrust litigation expertise, the firm has considerable expertise in administrative law, and is well equipped to represent clients before the High State Court, both on the merits of a case and for injunctive relief. ELIG Gürkaynak also advises clients on a day-to-day basis in a wide range of business transactions that almost always contain antitrust law issues, including distributorship, licensing, franchising and toll manufacturing issues.

Competition law contact:

Gönenç Gürkaynak, Founding Partner

Tel: +90 212 327 1724

gonenc.gurkaynak@elig.com

For information, please go to http://www.elig.com

Key Promotions in the Competition Law Practice Group of ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is proud to announce that Ms. Eda Duru and Mr. O. Onur Özgümüş have been promoted to Partner and Ms. Betül Baş, Ms. Sinem Uğur, Ms. Berfu Akgün, Mr. Kağan Uçar and Mr. Görkem Yardım have been promoted to Counsel as of January 1, 2022.

Ms. Çiğdem Gizem Okkaoğlu; Former Competition Expert / Rapporteur of the Turkish Competition Authority; joins ELIG Gürkaynak Attorneys-at-Law.

ELIG Gürkaynak Attorneys-at-Law is proud to announce that Ms. Çiğdem Gizem Okkaoğlu has joined its competition law team of 48 specialized competition lawyers as of the beginning of September 2021.

Mr. Harun Gündüz, Chief Legal Counsel of Turkish Competition Authority, joins ELIG Gürkaynak Attorneys-at-Law.

ELIG Gürkaynak Attorneys-at-Law is proud to announce that Mr. Harun Gündüz –the chief legal counsel of the Turkish Competition Authority with more than 16 years of specific competition law experience at the Turkish Competition Authority- has joined its competition law team of 48 specialized competition lawyers as Counsel.

The deputy head of the Supervision and Enforcement Department-I of the Turkish Competition Authority joins ELIG Gürkaynak Attorneys-at-Law.

ELIG Gürkaynak Attorneys-at-Law is proud to announce that Ms. Ebru İnce has joined its competition law team of 48 specialized competition lawyers as Counsel.

Recent Amendments Introduced to the Law No. 4054 on Protection of Competition

Authors: Gönenç Gürkaynak, Öznur İnanılır, Burcu Can, Sinem Uğur and Esen Ergül of ELIG Gürkaynak Attorneys-at-Law

After rounds of revisions and failed attempts of enactment over a span of several years, the proposal for an amendment to the Law No. 4054 on Protection of Competition (“Law no. 4054”) (“Amendment Proposal”) has finally been approved by the Turkish parliament, namely the Grand National Assembly of Turkey.


Legislative Proposal to Amend Law No. 6493 on Payment Services and Electronic Money

The Legislative Proposal on Amending the Law No. 6493 on Payment and Security Systems, Payment Services and Electronic Money Institutions (“Proposal”), has recently been submitted before the Grand National Assembly of Turkey.