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LEGAL DEVELOPMENTS

425

scope of Article 7 of Act No. 4054 and Communiqué No. 1998/4.

However, the acquisition is not subject to authorization since the

turnover thresholds provided in the said Communiqué are not

exceeded. (03.03.2011, 11-12/218-71 )

• The Board decided that the acquisition of Erdemir Çelbor Çelik

Çekme Boru Sanayi ve Ticaret A.Ş., with all of its assets and

liabilities, by Erdemir Çelik Servis Merkezi Sanayi ve Ticaret

A.Ş., is not within the scope of Article 7 of Act No. 4054 and

Communiqué No. 2010/4 since the parties are within the same

economic entity. (10.03.2011, 11-15/252-81 )

• The Board authorized the establishment of a joint venture between

Türk Hava Yolları Teknik A.Ş. and Zorlu O/M Enerji Tesisleri

İşletme ve Bakım Hizmetleri A.Ş. since it would not result in the

creation or strengthening of a dominant position as described under

Article 7 of Act No. 4054 and the Communiqué No. 2010/4 and thus

in significant lessening of competition. (17.03.2011, 11-16/295-95)

• The Board authorized the transfer of all of the shares of Set Group

Holding A.Ş. to Limak Anadolu Çimento İnşaat Malzemeleri

San. ve Tic. A.Ş. since it would not result in the creation or

strengthening of a dominant position as described under Article

7 of Act No. 4054 and the Communiqué No. 2010/4 and thus in

significant lessening of competition. (17.03.2011, 11-16/300-96 )

• The Board decided that the acquisition of 95% of the shares of

Süd-Chemie AG by Clariant AG fell under the scope of Article

7 of the Act no 4054 and the Communique no 201/4; but that

was not subject to authorization since no market was affected as a

result of the transaction. (07.04.2011, 11-22/401-128)

• The Board decided that the acquisition of the shares of INGMenkul

Değerler A.Ş. by ING Bank A.Ş. did not fall under article 7 of

the Act no 4054 or under the Communiqué no 2010/4, since the

undertakings were parts of the same economic entity and therefore

there was no change in control. (07.04.2011, 11-22/390-123)

• The joint venture transaction planned between Türk Hava Yolları

A.O., Türk Hava Yolları Teknik A.Ş. and TUSAŞ-Türk Havacılık