TCA's Second Clearance For The Same Transaction

In 2014 the Turkish Competition Authority ("TCA") had granted a conditional clearance to acquisition of Dosu Maya by Özmaya¹ which reduced the number of players in the yeast market and this decision was annulled by the decision of Ankara 8th Administrative Court². In order to comply with the court decision, the TCA initiated a new examination³ and this has recently been concluded by TCA⁴. Although the reasoned decision has not been published yet, it is possible to make some inferences by throwing a glance at the result of the TCA's short decision.

This decision is of crucial importance since it is one of few examples that Administrative Court has reversed the decision of TCA regarding the authorization of a concentration transaction. The fact that conditional clearance was given to the concerned concentration was criticized by the Administrative Court on the ground that the remedies presented by the parties were approved by TCA without detailed economic analysis