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ARTICLE · 04 APRIL 2014

Share Purchase Offer

Shareholders in public companies may voluntarily offer to purchase the shares of other shareholders.

TurkeyCorporate/Commercial Law

Introduction

Shareholders in public companies may voluntarily offer to purchase the shares of other shareholders. Nevertheless, under certain circumstances, the controlling shareholder, or the shareholder who acquires control of a public company, is obliged to make mandatory offers to purchase the shares of other shareholders.

Voluntary and mandatory offers are regulated under Capital Markets Law No. 6362 1 ("CML") and Communiqué No. II-26.1 governing Share Purchase Offers2 published pursuant to the CML ("Communiqué"). This newsletter article analyses the share purchase offer within the scope of the CML and the Communiqué.

CML Provisions Governing Share Purchase Offers

In General

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