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4/26/2022

Competition Authority, Annual Report 2021

The Competition Authority made decisions on 309 mergers and transfers including 5 mergers, 214 takeovers, 83 joint ventures and 7 privatizations in 2021. The mergers and transfers where Turkey was the target company were worth 137.5 billion TL, while both sides were Turkish companies in mergers and transfers worth 15.9 billion TL...

The Competition Authority has released its 2021 Annual Report.

The Competition Authority issued 405 decisions on 309 mergers and transfers, 74 violations of competition, and 22 cases of exemption and negative declaration in 2021. While 74 decisions were made for violations of competition, 24 investigations were in progress as of the end of 2021.

277 clearances, 3 conditional clearances and out-of-scope and sub-threshold decisions were made, out of which 5 were about mergers, 214 were about takeovers, 83 were about joint ventures, and 7 were about privatizations. The Authority issued clearance for 190 transactions in 2020. The top 10 industries for which the Authority issues its decisions were as follows: "Chemistry and Mining: 37 decisions, Information Technologies and Platform Services: 32 decisions, Food Industry: 29 decisions, Machinery Industry: 27 decisions, Infrastructure Services: 23 decisions, Healthcare Services: 21 decisions, Logistics, Storage and Postal: 19 decisions, Automotive and Vehicles: 19 decisions, Construction: 17 decisions, Banking, Capital Market, Finance and Insurance Services: 16 decisions".

Among the permitted mergers and transfers was the privatization of Fenerbahçe-Kalamış Marina (Kalamış Marina) owned by the Turkish Maritime Organization by transferring the operating rights of the Marina to Tek-Art Kalamış ve Fenerbahçe Marmara Turizm Tesisleri A.Ş.’ye (Tek-Art) where the privatization tender was canceled by the President. 

Merger and Transfer Outlook Report 2021:

The report provides the following information about the Mergers and Transfers: "125 out of 309 transactions involved target companies incorporated under the laws of Turkey. The overall amount of transactions reported for the privatizations where the target company was Turkey-based was 137.5 billion TL. On the other hand, the overall value of the transactions with all parties based in Turkey was 15.9 billion TL. International investors invested in Turkish companies in 51 different cases. Luxembourg-based investors top the list of investors with 10 transactions with Turkey-based target companies in 2021. 111.3 billion TL of foreign investment is expected to be made in the merger, transfer and privatization transactions where Turkish companies are transferred. The highest number of transactions in the category of mergers and transfers in 2021 took place under the category of "generation, transmission and distribution of electricity". 'Production of packaging materials from plastic' had the highest transaction value among the said transactions."

Annual Report