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and distributed are not within the scope of this restraint. Moreover,
such restriction does neither prevent the production and distribution of
similar products under another brand. Within this framework, the Board
concluded that this restraint is directly related and necessary within the
operation of acquisition and thus considered this restraint as an ancillary
restraint.
Conclusion
The said decision is an extremely important decision in terms of
mergers and acquisitions for Turkey since all important matters are
examined:
• The affected markets are determined. However, it would be more
appropriate had the Board defined this notion and explain its
importance within mergers and acquisitions.
• The two-steps test is applied and within this scope it is determined
that the said operation will not cause competition concerns in the
relevant market.
• Ancillary restraints are examined and within this scope it is
determined that they may be allowed since they are directly related
and necessary within the operation of acquisition.