Şahin | Doğan Law, with its expert team, continues its work in the field of mergers and acquisitions, especially focusing on companies with a multinational structure, which is an important commercial activity for many countries, including Turkey, and has been increasingly observed in recent years. Mergers and acquisitions, in general, provide numerous benefits such as company growth, restructuring, sectoral integration, and cost savings.
With the recent amendments made in the Turkish Commercial Code, merger and acquisition transactions can now be conducted more easily and swiftly. These transactions are regulated under Articles 136-163 of the Turkish Commercial Code.
A merger occurs when at least two separate companies combine their assets to form a new company. According to the Turkish Commercial Code, mergers can only take place between companies of the same type. For example, between joint-stock companies or between limited liability companies.
An acquisition, on the other hand, refers to one company acquiring another company. According to the Turkish Commercial Code, a company must own at least 50% of the shares in order to acquire another company.
However, these methods of mergers and acquisitions are not limited to the ones mentioned. It is necessary to consider client interests and objectives within the framework of the methods provided under the Turkish Commercial Code.
Furthermore, mergers and acquisitions are also significant from a competition law perspective. Under the Turkish Competition Law, merger and acquisition transactions are subject to review by the Competition Authority if the companies reach a certain market share. Based on this review, if it is deemed that the transaction will negatively affect competition, it may be prevented by the Competition Authority or approved subject to certain conditions.
In Turkey, mergers and acquisitions are carried out in accordance with the rules set forth by the Turkish Commercial Code and are supervised by the Competition Authority. These transactions contribute significantly to the Turkish economy by providing benefits such as company growth, restructuring, and cost savings.