Mergers and Acquisitions
"What is the legal framework for M&A transactions in Turkey?"
Quick Answer
M&A transactions are primarily governed by the Turkish Commercial Code, and may also involve competition law (merger control), capital markets rules for public companies, sector-specific regulations, and tax. Share deals and asset deals have different tax implications and require transaction-specific due diligence.
Key Aspects Under Turkish Law
Understanding mergers and acquisitions is crucial for businesses operating in Turkey. The Turkish Commercial Code provides the legal framework governing this area, with specific provisions that differ from other jurisdictions.
Key Points to Remember
- Turkish Commercial Code No. 6102 provides the primary legal framework
- Trade Registry filings/registrations may be required depending on the transaction structure (for example, certain statutory corporate actions and some share-transfer formalities in limited liability companies)
- Foreign investors have equal rights with domestic entities
- Proper documentation and corporate formalities are essential
Practical Considerations for Businesses
When dealing with mergers and acquisitions in Turkey, businesses should consider engaging qualified legal counsel familiar with both Turkish law and international business practices. This ensures compliance with local requirements while meeting global standards.
Documentation requirements, timeline considerations, and regulatory approvals vary depending on the specific circumstances of each case. Early planning and proper structuring can help avoid common pitfalls.
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