Means To Acquire A Target

I. Introduction

Although it is the first thing that comes into mind, share acquisition is not the only way to acquire a target. Turkish laws allow acquisitions to be completed through a number of other methods such as asset acquisitions, business acquisitions and merger, depending on preference of the buyer. This article will explain the processes for the acquisition methods concerning joint-stock and limited liability companies covering the requirements for valid acquisitions and matters to consider.

II. Share Acquisition

The most common and straightforward way to acquire a company is acquiring the target company's shares by share transfer.

As a general rule, registered and bearer shares in a joint-stock company can be transferred freely as per Articles 489 and 490 of the Turkish Commercial Code No. 6102 (the "TCC"). However, Article 491 of the TCC stipulates that registered shares, nominal value of which are not fully paid-in, can only be transferred