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ARTICLE · 09 JANUARY 2018

Turkey Loosens Rules For Bank Spin-Offs

Moroglu Arseven
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Turkey has loosened its rules for bank spin-offs, introducing a new distinction for partial spin-offs and excluding these transactions from the scope of certain rules.

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
A. Başak Acar, LL.M.
A. Başak Acar, LL.M.
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Turkey has loosened its rules for bank spin-offs, introducing a new distinction for partial spin-offs and excluding these transactions from the scope of certain rules. Accordingly, partial bank spin-off transactions no longer fall within the scope of the Regulation Regarding Merger, Acquisition, Spin-Off and Share Transfer of Banks.

The Regulation Amending the Regulation Regarding Merger, Acquisition, Spin-Off and Share Transfer of Banks ("Amendment Regulation") was published in Official Gazette number 30242 on 16 November 2017.

Partial spin-offs will be not in the scope of the Regulation Regarding Merger, Acquisition, Spin-Off and Share Transfer of Banks published in Official Gazette number 26333 on 1 November 2006 ("Regulation"), provided these result in the transfer of some of the bank's assets, in a manner that does not cause the bank to dissolve, and the spun-off assets constitute a subsidiary involving the bank acquiring the assignee company's shares.

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