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As a justification for its decision, the Board indicated that Mehmet
Kazancı, Esin Kazancı, Begüm Kazancı and Mustafa Kurnaz, shareholders
of MMEKA, are under the same entity as Kazancı Holding A.Ş., and
consequently, as Aksa Elektrik Perakende Satış A.Ş (hereinafter referred
to as “Aksa Elektrik”).
In accordance with the information available to the public, Kazancı
Holding A.Ş., with its publicly held participations in Aksa Elektrik Üretim
A.Ş., Aksa Elektrik Toptan Satış A.Ş. and Aksa Elektrik, appears to hold
a substantial market share in the electricity production and distribution
market. On the other hand, it can be understood, from several decisions of
the Competition Board, that Kazancı Holding A.Ş. also holds a substantial
market share in the natural gas distribution market. As a matter of fact,
the Competition Board, in its decisions of Çoruh Elektrik Dağıtım A.Ş.,
Osmangazi Elektrik Dağıtım A.Ş, Fırat Elektrik Dağıtım A.Ş., Vangölü
Elektrik Dağıtım A.Ş., concerning the acquisitions of these undertakings
by Aksa Elektrik, and its decisions of Yeşilırmak Elektrik Dağıtım A.Ş.
and Çamlıbel Elektrik Dağıtım A.Ş., concerning the acquisition of these
undertakings byAnadoluDoğalgaz DağıtımA.Ş., discussed the fact that the
same undertakings hold an electricity and natural gas distribution within the
same territory in terms of “convergent market integration” and permitted
these acquisitions by majority of votes. Dissident members underlined that,
on one hand, the integration on the convergent markets creates a dominant
position, and on the other hand, the necessary precautions to prevent
the superposition were not taken. Therefore, whether OG, the winning
undertaking, is under the same economic entity as Kazancı Holding A.Ş.
or not, is crucial.
In its Summary Decision, the Competition Board emphasized that the
acquisition of all three of Boğaziçi Elektrik Dağıtım A.Ş., Gediz Elektrik
DağıtımA.Ş. and Trakya Elektrik DağıtımA.Ş. by İş-Kaya İnşaat Sanayi ve
Ticaret Ltd. Şti.-MMEKA Makine İthalat Pazarlama ve Ticaret A.Ş. Joint
Venture Group and/or Aksa Elektrik Perakende Satış A.Ş. would result
in creating a dominant position and decreasing competition significantly
in the relevant markets with respect to Kazancı Holding Inc, according to
Article 7 of Act No. 4054. Based on this evaluation, the Board decided
that the acquisition of all three of Boğaziçi Elektrik Dağıtım A.Ş., Gediz
Elektrik Dağıtım A.Ş. and Trakya Elektrik Dağıtım A.Ş. by İş-Kaya-
MMEKA OG and Aksa Elektrik will not be authorized according to Article