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ARTICLE · 07 JANUARY 2016

The Competition Board Rejected The Acquisition Of The Marinas

Erdem & Erdem Law
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The Competition Board has rejected the acquisition of the full shares of Beta Marina Liman ve Çekek İşletmesi A.Ş. and Pendik Turizm Marina Yat ve Çekek İşletmesi A.Ş. by Setur Servis Turistik A.Ş.

TurkeyAntitrust/Competition Law
H. Ercüment Erdem
H. Ercüment Erdem
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Introduction

The Competition Board ("Board") has rejected the acquisition of the full shares of Beta Marina Liman ve Çekek İşletmesi A.Ş. ("Beta Marina") and Pendik Turizm Marina Yat ve Çekek İşletmesi A.Ş. ("Pendik Turizm") by Setur Servis Turistik A.Ş. ("Setur") in accordance with Art. 7 of the Act No. 4054 on the Protection of Competition ("Competition Act") in its decision1 dated 09.07.2015 and numbered 15-29/421-118.

Parties of the Transaction

Pursuant to the information examined by the Board, the acquirer party, Setur, was incorporated within Koç Holding A.Ş. ("Koç Holding") in 1965, and is active in the tourism sector. Koç Holding operates nine marinas of which two of them are operated under joint control.

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