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The Turkish Competition Board Authorizes a Joint Control
Acquisition in the Sector of Manufacturing and Sale of
Components and Systems for Automotive and
Motor Vehicles (Mahle/Behr)
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Prof. Dr. H. Ercument Erdem
The Competition Board (“Board”) authorized the acquisition of
joint control over Behr GmbH & Co (“Behr”) by the main sharehold-
ers of Mahle GmbH (“Mahle”) and Behr, under Act for the Protection
of Competition numbered 4054 (“Competition Act”) and the
Communiqué No: 2010/4 Concerning the Mergers and Acquisitions
Calling for the Authorization of the Competition Board (“Merger
Communiqué”).
Multiphase Transfer of Control
Mahle envisages taking control of Behr in the year 2013. The men-
tioned acquisition of control will be implemented in several phases.
The first phase consists of Mahle acquiring a 19.9 % interest of Behr’s
share capital by way of capital increase and participation of Mahle
within Behr as a limited liability partner. This first phase was complet-
ed on 18.10.2010.
In the second phase, which was completed on 17 January 2011, the
total participation in the share capital of Mahle in Behr was increased
to % 36.85.
The third phase, which is voluntary, provides Mahle with an acqui-
sition option, which accredits Mahle to additional shares that would
enable owning the majority shares in the amount of 50.1% in Behr.
It is stated in the Notification Form that this option may be used after
the date of 01.01.2013.
A mid–phase is planned before proceeding with the abovemen-
tioned third phase that provides Mahle to preserve 36.85% of its share
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NEWSLETTER 2012
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Article of March 2012