Concentration under Competition Law in Turkey

Article 7 of the Act No. 4054 on the Protection of Competition which was published in December 1994 is the general prohibition clause concerning the mergers and acquisitions. According to this article, merger of two or more undertakings, or acquisition, except acquisition by inheritance, by on undertaking by a person, of another undertaking, either by acquisition of all or a part of its assets or securities or other means by which that person or undertaking acquires a controlling power in that undertaking concerned, which would create or strengthen the dominant position of one or more undertakings as a result of which, competition would be significantly impeded in a market for goods and services in the whole territory of State or in a substantial part of it, is unlawful and prohibited.