• Recent Keynotes of June 2016
  • September 27, 2016
  • Law Firm: Erdem Erdem Law Office - Istanbul Office
  • International Agreements

    • The Resolution of Council of Ministers dated 09.05.2016 and numbered 2016/8840 on the Approval of Additional Protocol to the Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data regarding Supervisory Authorities and Transborder Dataflow was published in the Official Gazette dated 24.05.2016 and numbered 29721.

    Legislation

    • The Communiqué on the Amendment to the General Implementation Communiqué on the Value Added Tax (Serial No: 6) was published in the Official Gazette dated 21.05.2016 and numbered 29718.

    • The Regulation on the Determination of the Preferential Origin of the Goods in Trade within the scope of Preferential Trade Agreement between D-8 Countries, valid as of 01.07.2016, was published in the Official Gazette dated 24.05.2016 and numbered 29721.

    • The Regulation on the Amendment to the Regulation on Financial Reporting by Insurance Reinsurance and Pension Companies, valid as of 01.01.2016, was published in the Official Gazette dated 29.05.2016 and numbered 29726.

    • The Regulation on the Amendment to the Regulation on the Social Security Processes was published in the Official Gazette dated 29.05.2016 and numbered 29726. Various provisions of the Regulation enters into force on different dates.

    • The Communiqué on the Amendment to the Communiqué (No: 2008/1) on the Presentation of the Financial Statements, valid as of 01.01.2016, was published in the Official Gazette dated 29.05.2016 and numbered 29726

    • The Regulation on the Amendment to the Regulation on the Principles of Establishment and Operation of the Financial Leasing, Factoring and Financing Companies entered into force through publication in the Official Gazette dated 02.06.2016 and numbered 29730.

    • The Regulation on the Authorized Legal Entities entered into force through publication in the Official Gazette dated 03.06.2016 and numbered 29731.

    • The General Communiqué on Customs (Tariff) (Serial No: 14), valid as of 01.06.2016, was published in the Official Gazette dated 03.06.2016 and numbered 29731.

    • The Communiqué on the Capacity Increase and/or Extension in the Projects with “EIA Positive” or “EIA not Required” Decisions entered into force through publication in the Official Gazette dated 08.06.2016 and numbered 29736.

    • The Regulation on the Amendment to the Regulation on the Authorizations Electronic Communication Sector entered into force through publication in the Official Gazette dated 11.06.2016 and numbered 29739.

    • The Law on the Amendment to the Law on the Electricity Market and Other Laws entered into force through publication in the Official Gazette dated 17.06.2016 and numbered 29745.

    • The General Communiqué on Customs (Generalized Preference System) (Serial No: 2), valid as of 01.06.2016, was published in the Official Gazette dated 18.06.2016 and numbered 29746.

    Competition Board Decisions

    • The Competition Board (“Board”) decided that negative clearance shall not be granted with respect to the Distribution Agreement between the Nükleer Ürünler Medikal San. ve Tic. A.S. ve Up Nükleer Medikal Danismanlik Insaat Turizm Eǧitim Saǧlik Tic. Ithalat Ihracat Ltd. Sti. and Iba Molecular Turkey Ilaç San. ve Tic. Ltd. Sti.; however, the relevant Agreement benefits from a block exemption within the scope of Communiqué No. 2013/3 on the Block Exemption Regarding the Specialization Agreements. (01.06.2016, 16-19/318-145)

    • The Board granted negative clearance to the activities of obtaining the offered discount rates of the suppliers regarding the two energy items, which are electricity and natural gas, by the Eskisehir Bilecik Kütahya Seramic Activity Area Association, and reporting the relevant offers to the EBK members. (01.06.2016, 16-19/318-145)

    Mergers and Acquisitions

    • The Board authorized the merger of Polynt Group S.A. and Reichhold Cayman GP under the joint control of Investindustrial Advisors Limited and Black Diamond Capital Management L.L.C. (01.06.2016, 16-19/306-135)

    • The Board authorized the acquisition of all of the shares of Ineos Styrenics European Holding B.V., which is a subsidiary of Ineos Industries Holdings Limited, by Synthos S.A. (01.06.2016, 16-19/307-136)

    • The Board authorized the acquisition of control of Toshiba Medical System Corporation by Canon Inc. (01.06.2016, 16-19/309-138)

    • The Board authorized the establishment of a joint venture by The Dow Chemical Company and E.I. du Pont de Nemours and Company (01.06.2016, 16-19/310-139)

    • The Board authorized the acquisition of control of SABMiller plc by Anheuser-Busch InBev (01.06.2016, 16-19/311-140)

    • The Board authorized the establishment of a joint venture by SIA Engineering Company Limited and Airbus Services Asia Pacific Pte. Ltd. (01.06.2016, 16-19/314-143)

    • The Board authorized the acquisition of all of the shares of Mars Entertainment Group A.S. by an affiliate of CJ CGV Co. Ltd., the CJ group of companies and financial investors. (01.06.2016, 16-19/317-144)

    • The Board authorized the establishment of the joint control on Vertafore Inc. by Bain Capital Group and Vista Group (09.06.2016, 16-20/329-148)

    • The Board authorized the establishment of a joint venture through the establishment of joint control of Duck Creek by Apax Partners Group and Accenture Group (09.06.2016, 16-20/330-149)

    • The Board authorized the establishment of the joint control on Planet TV ve Uydu Platform Isletmeciliǧi A.S. and its affiliates by Nafia Sevin Ergün Sefada and PLNT01 Medya ve Iletisim Hizmetleri A.S. (09.06.2016, 16-20/331-150)

    • The Board authorized the acquisition of control of Meda AB by Mylan N.V. (09.06.2016, 16-20/336-152)

    • The Board authorized the acquisition of sole control of Azmüsebat Çelik Sanayi ve Ticaret A.S. controlled by the CANSU family and Yildiz Holding A.S., by Yildiz Holding A.S. (09.06.2016, 16-20/337-153)

    • The Board authorized the acquisition of all of the shares of Starcity Outlet Alisveris Merkezi controlled by Merkür Insaat Ticaret A.S. and BYN Gayrimenkul Gelistirme A.S., by Gençoǧlu AVM Yatirimlari A.S. (09.06.2016, 16-20/338-154)

    • The Board authorized the acquisition of a certain amount of shares of Envy Enerji ve Çevre Yatirimlari A.S. by Assystem S.A. (09.06.2016, 16-20/349-157)

    • The Board decided that the establishment of a joint venture to export and sell raw Brazilian sugar cane in the international sugar market, by Raizen Energia S.A., jointly controlled by Cosan lC and e Shell Brazil, and Wilmar Sugar Pte. Ltd., which is an indirect affiliate of Wilmar International Limited, is not subject to authorization. (09.06.2016, 16-20/335-BD)

    Privatizations

    • The Board authorized the privatization of the immovables used by the Adigüzel and Kemer Hydroelectric Power Plants of Elektrik Üretim A.S. by way of “granting operation rights.” (09.06.2016, 16-20/350-158)

    Energy

    • The Regulation on the Acceleration of the Sale-Purchase and Tender Procedures of Electricity Distribution Market entered into force through publication in the Official Gazette dated 25.05.2016 and numbered 29722.

    • The Regulation on the Amendment to the Regulation on the Distribution and Customer Services in the Natural Gas Market entered into force through publication in the Official Gazette dated 27.05.2016 and numbered 29724.

    • The Energy Market Regulatory Authority (“EMRA”) published the Petroleum Report of March, 2016, on 31.05.2016.

    • The Regulation on the Amendment to the Regulation on Electricity Market Balancing and Reconciliation was published in the Official Gazette dated 28.05.2016 and numbered 29725. The Regulation entered into force on 01.06.2016.

    • The Board Decision dated 13.05.2016 and numbered 6282-3 on Principles and Procedures Regarding Securities was published in the Official Gazette dated 28.05.2016 and numbered 29725.

    • The Board Decision dated 13.05.2016 and numbered 6282-4 on the Principles and Procedures Regarding the Transparency in Organized Wholesale Electric Markets was published in the Official Gazette dated 28.05.2016 and numbered 29725.

    • The announcement on the progress reports to be submitted in the July, 2016 period was published by the EMRA on 09.06.2016.

    • The EMRA published the Petroleum and LPG Market Pricing Reports of May, 2016, on 15.06.2016.

    • The EMRA published Electricity Market Sector Report of April, 2016, on 20.06.2016.

    • The EMRA published Natural Gas Market Sector Report of April, 2016, on 20.06.2016.