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ARTICLE · 01 JULY 2020

New Significant Transactions And Retirement Right Communiqué

Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership
Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership
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Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership

Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership

Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership (BASEAK) is an Istanbul-based...

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Following the amendments in the Turkish Capital Markets Law ("CML") made in February 2020, the Capital Markets Board of Turkey ("CMB")

TurkeyCorporate/Commercial Law

Following the amendments in the Turkish Capital Markets Law ("CML") made in February 2020, the Capital Markets Board of Turkey ("CMB") published a new communiqué bringing significant changes to the communiqué numbered II-23.1 ("Previous Communiqué") regulating significant transactions and retirement right. This new communique numbered II.23.3 ("New Communiqué") entered into force on 27 June 2020.

Significant Transactions

The amendments in CML authorized the CMB to determine what constitutes a significant transaction depending on the type of public company and on a case-by-case basis. In line with the expectations, CMB set out the rules for determining significant transactions under the New Communiqué.

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