Corporate and M&A

By: Eda Uludere 

International Agreements

• The Resolution of the Council of Ministers dated 25.01.2016 and numbered 2016/8460 on the Ratification of the Agreement between the Republic of Turkey and the European Union Regarding the Joining of Turkey to the Civilian Protection Mechanism was published in the Official Gazette dated 22.03.2016 and numbered 29661.
• Law numbered 6687 on the Ratification of the Protocol between the Republic of Turkey and the Republic of Azerbaijan regarding the Debt Occurred During the Electricity Energy Exchange entered into force through publication in the Official Gazette dated 25.03.2016 and numbered 29664.
• The Resolution of the Council of Ministers dated 21.03.2016 and numbered 2016/8667 on the Ratification of the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism along with Annexed Explanations and Declarations was published in the Official Gazette dated 07.04.2016 and numbered 29677.
• The Resolution of the Council of Ministers dated 21.03.2016 and numbered 2016/8668 on the Ratification of the Council of Europe Convention on Action against Trafficking in Human Beings was published in the Official Gazette dated 07.04.2016 and numbered 29677.
• The Resolution of the Council of Ministers dated 14.03.2016 and numbered 2016/8631 on the Ratification of the Investment Agreement within the Scope of the Framework Agreement Establishing a Free Trade Area between the Republic of Turkey and the Republic of Korea was published in the Official Gazette dated 14.04.2016 and numbered 29684.
• The Resolution of the Council of Ministers dated 14.03.2016 and numbered 2016/8632 on the Ratification of the Annexed Financing Agreement belonging to the IPA-II Multi-Year Employment, Education and Social Policy Action Program was published in the Official Gazette dated 14.04.2016 and numbered 29684.

Resolutions of the Council of Ministers

• The Principles dated 08.02.2016 and numbered 2016/8552 on the Amendment to the Principles on the Employment of Contract Employees was published in the Official Gazette dated 08.04.2016 and numbered 29678.
• The Resolution dated 21.03.2016 and numbered 2016/8661 on the Amendment to the Resolution on Undocumented Export Loans and Exemption of Tax, Fees and Charges was published in the Official Gazette dated 08.04.2016 and numbered 29678.
• The Resolution dated 21.03.2016 and numbered 2016/8672 on the Amendment to the Resolution on Payment of Fee Surplus for the Cost Increase in the Underground Mining Works in relation to the Royalty Agreements Continuing within the Scope of Temporary Article 29 of the Mining Law numbered 3213 was published in the Official Gazette dated 08.04.2016 and numbered 29678.
• The Resolution dated 21.03.2016 and numbered 2016/8673 on the Resolution on Provision of Support to the Underground Mining Businesses Mining for Lignite and Coal Run by Private Law Legal Entities with Licenses with the Purpose of Compensating Cost Increase was published in the Official Gazette dated 08.04.2016 and numbered 29678.
• The Resolution dated 29.02.2016 and numbered 2016/8715 on the Amendment to the Resolution on the Resolution on State Aids for Investments was published in the Official Gazette dated 08.04.2016 and numbered 29678.
• The Principles dated 28.03.2016 and numbered 2016/8720 on the Amendment to the Resolution on the Principles on the Employment of Contract Employees was published in the Official Gazette dated 08.04.2016 and numbered 29678.

Legislation

• Criminal Assets Regulation entered into force through publication in the Official Gazette dated 23.03.2016 and numbered 29662.
• The Regulation on the Amendment to the Regulation on Post-Release Control and Control of Risky Transactions entered into force through publication in the Official Gazette dated 28.03.2016 and numbered 29667.
• The Regulation on the Amendment to the Customs Regulation entered into force through publication in the Official Gazette dated 29.03.2016 and numbered 29668.
• The Expenditure Tax General Communiqué (Serial No: 90) entered into force through publication in the Official Gazette dated 29.03.2016 and numbered 29668.
• The Communiqué on the Amendment to the Inward Processing Regime Communiqué (Export: 2006/12) entered into force through publication in the Official Gazette dated 01.04.2016 and numbered 29671.
• The Personal Data Protection Law numbered 6698 was published in the Official Gazette dated 07.04.2016 and numbered 29677. The Articles 8, 9, 11, 13, 14, 15, 16, 17 and 18 of the Law will enter into force 6 months after their publication, while the remaining articles entered into force through publication.
• The Regulation on the Amendment to the Temporary Protection Regulation entered into force through publication in the Official Gazette dated 07.04.2016 and numbered 29677.
• The Regulation on the amendment to the Regulation on Determining the Credits and Qualification of its Other Receivables by Banks and Procedures and Principles With Regards To Their Reserves entered into force through publication in the Official Gazette dated 07.04.2016 and numbered 29677.

Competition Board Decisions

• The Competition Board (“Board”) granted negative clearance to the transaction of sharing “second hand automobile sales data” and “new vehicle sales data” by EBS Otomotiv Yönetim Danışmanlığı. (30.03.2016, 16-12/194-88)
• The Board decided that the Global Joint Publicity Agreement signed by Ares Trading S.A and Pfizer Inc. does not benefit from block exemption, however it granted individual exemption to the said agreement. (20.04.2016, 16-14/215-93)
• The Board granted negative clearance to the Sub-Production Agreement signed between Atiker Metal İthalat İhracat ve İmalat San. Tic. A.Ş. and Aldesa Yakıt Sistemleri Sanayi ve Ticaret A.Ş. (20.04.2016, 16-14/218-95)

Mergers and Acquisitions

• The Board authorized the acquisition of the standardized LPG facilities owned by Total Türkiye Pazarlama A.Ş. by İpragaz A.Ş. (30.03.2016, 16-12/183-78)
• The Board authorized the acquisition of a certain amount of shares of Dow Corning Corporation by Dow Chemical Company from Corning Corporation. (30.03.2016, 16-12/184-79)
• The Board authorized the acquisition of machine tools line of work of Doosan Infracore Co. Ltd. by MBK Partners Limited. (30.03.2016, 16-12/185-80)
• The Board authorized the acquisition of a certain ratio of shares representing the capital of Bursa Pazarı İnşaat San. ve Tic. A.Ş. by Bunzl Holding GmbH controlled by Bunzl Public Limited Company. The Board decided that the acquisition of that certain ratio of shares representing the capital of Kullanatmarket Elektronik Pazarlama Tic. A.Ş. by Bunzl Holding GmbH controlled by Bunzl Public Limited Company was not subject to authorization. (30.03.2016,16-12/190-85)
• The Board authorized the acquisition of a certain ratio of shares of OCM Luxemburg EPF III Railpool Topco S.a.r.l. by Pacific Mezz Investco S.a.r.l. from OCM Luxemburg EPF III S.a.r.l. (30.03.2016,16-12/192-86)
• The Board authorized the acquisition of control over Starwood Hotels & Resorts Worldwide, Inc. by Marriott International, Inc. (20.04.2016,16-14/220-96)
• The Board authorized the acquisition of a certain ratio of shares of Akfen Yenilenebilir Enerji A.Ş. which is a 100% affiliate of Akfen Holding A.Ş. by European Bank of Reconstruction and Development. (20.04.2016,16-14/234-98)

Energy

• The Regulation on the Amendment to the Regulation on Electricity Market Connection and System Usage entered into force through publication in the Official Gazette dated 23.03.2016 and numbered 29662.
• The Regulation on the Amendment to the Unlicensed Electricity Generation in the Electricity Market entered into force through publication in the Official Gazette dated 23.03.2016 and numbered 29662.
• The Communiqué on the Amendment to the Communiqué on the Implementation of the Electricity Market Unlicensed Electricity Generation Regulation entered into force through publication in the Official Gazette dated 23.03.2016 and numbered 29662.
• The Regulation on the Amendment to the Natural Gas Market License Regulation entered into force through publication in the Official Gazette dated 31.03.2016 and numbered 29670.
• The Regulation on the Amendment to the Regulation on the Service Quality of the Electricity Distribution and Retail Sale entered into force through publication in the Official Gazette dated 31.03.2016 and numbered 29670.