Notification And Approval Requirements For Mergers And Acquisitions (M&A) Under Turkish Competition Authority

Mergers and acquisitions, which are frequently used by companies in their growth strategies on a global and national scale, directly affect not only the structure of the parties involved but also the competitive balance by leading to market concentration. For this reason, such transactions must be closely monitored by commercial, legal, and competition law.

In Turkey, the authority to conduct this oversight lies with the Competition Authority. Article 7 of the Law on the Protection of Competition No. 4054 (RG: 13.12.1994 / 22140) ("Law No. 4054") and the Communiqué No. 2010/4, which replaced the previous Communiqué No. 1997/1 as of January 1, 2011, was published in the Official Gazette dated October 7, 2010 and entered into force on January 1, 2011, pursuant to the Communique on Mergers and Acquisitions Requiring Approval from the Competition Board No. 2010/4 ("Communique"), mergers and acquisitions of certain characteristics and sizes are subject to notification