Just before Eid-Ramadan break in Turkey, we would like to inform you about a highly important decision adopted by the TCA on 9 July 2015, which was last Thursday. The decision is related to proposed takeover of Beta Marina and Pendik Marina by Setur Servis Turistik A.Ş., which is controlled by the Koç Holding, the largest conglomerate in Turkey. Regarding the transaction, the TCA had opened a phase-II investigation almost a year ago on 7 August 2014 in order to perform an in-depth analysis.
Although there is still little information about the merits of the case, it is stated in the press release that Koç Holding would have a dominant position in the relevant market defined for Istanbul City Port Marina after the transaction and it would result in significant lessening of competition. According to the statistics published by the TCA every year, this is the 5th prohibition decision of the TCA. However, previous 4 prohibition decision was related to privatization of public entities. Therefore this decision can be regarded as the first of its kind.
We are also planning to give you more information about another important decision adopted last week regarding the conditional approval of Migros’s acquisition by Anadolu Group, which also owns the largest beer maker.
For now, happy Eid-Ramadan to you all.