Remedies under Turkish Merger Control Regime
As per the Guideline on Remedies Acceptable in Mergers and Acquisitions (Remedy Guidelines
) the parties can submit behavioural or structural remedies. The Remedies Guideline explains acceptable remedies such as:
- divestment;
- ending connections with competitors;
- remedies that enable undertakings to access certain infrastructure (e.g., networks, intellectual property and essential facilities); and
- remedies on amending a long-term exclusive agreement.
The Turkish Competition Board conditions its approval decision on the application of the remedies. Whether the parties may complete the merger before the remedies have been complied with depends on the nature of the remedies. Remedies may be either a condition precedent for the closing or an obligation post-closing of the merger. The parties may complete the merger if the remedies are not designed as a condition precedent for the closing.
Under Turkish merger control regime the structural remedies take precedence over behavioural remedies. To that end, the behavioural remedies can be considered in isolation only if (i) structural remedies are impossible to implement and (ii) behavioural remedies are beyond doubt as effective as structural remedies (Remedy Guideline, paragraph 77).
For more information on remedies under Turkish merger control regime, please feel free to reach out to ELIG Gurkaynak at +90 212 327 1724 or through gonenc.gurkaynak@elig.com.