Merger Control
"When is merger notification required to Turkish Competition Authority?"
Quick Answer
Notification is required if either (i) the aggregate Turkish turnover of the transaction parties exceeds TRY 750 million and the Turkish turnover of at least two parties exceeds TRY 250 million each, or (ii) the Turkish turnover of the transferred assets/business (in acquisitions) or of at least one party (in mergers) exceeds TRY 250 million and the worldwide turnover of at least one of the other parties exceeds TRY 3 billion.
Commercial Law Framework
Merger control in Turkey is governed primarily by Law No. 4054 on the Protection of Competition and Communiqué No. 2010/4 on Mergers and Acquisitions (as amended). Transactions that meet the turnover thresholds must be notified to, and cleared by, the Competition Board before closing.
Key Points to Remember
- Turkish Commercial Code applies to all commercial activities
- Trade registry registration provides legal certainty
- Commercial practices and customs are recognized
- Competition law compliance is essential
Business Implementation
Understanding Turkish commercial law requirements is essential for any business operating in Turkey. This includes proper corporate governance, contractual relationships, and regulatory compliance.
Foreign companies should work with local counsel familiar with both Turkish commercial practices and international business standards.
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