May Wrong Interpretation Of SHA Clauses Constitute Misleading Information: Jacobs Decision Of The TCA

The Turkish Competition Authority ("TCA") has cleared a transaction concerning the creation of a joint venture between "Jacobs Turkey" and Turkish tea producer "Of Çaysan" through its decision dated 17.10.2018 and numbered 18-39/632-307. Although the merits of the case are not of much significance from a competition law perspective, the different opinion provided by a Board Member is indeed noteworthy.

In brief, the proposed transaction consists of two stages. First, Jacobs Turkey, which was controlled by Jacobs Douwe Egberts International B.V. would acquire Of Çaysan in its entirety. Subsequently, the Kasap Family which holds entire shares of Of Çaysan would acquire 30% of the shares of Jacobs Turkey.