Amendments to the Communiqué on Mergers and Spin-offs
The Communiqué (II-23.2.b) (“Communiqué”) on the Amendment to the Communiqué on the Mergers and Spin-offs (II-23.2) entered into force through publication in the Official Gazette dated 30.05.2020 and numbered 31140.
Through the introduction of the amendments, the definition of “management control” has been included to the Communiqué on Mergers and Spin-offs. In addition, it has been established that the fourth, fifth, sixth and seventh paragraphs of article 12 of the Communiqué on Mergers and Spin-offs shall not be implicated for the companies whose shares are publicly traded and management control belongs to the public institutions and organizations. Through the said amendment, efficient, effective and fast conduct of the possible structuring transactions is aimed.
Please find the Turkish version of the Communiqué here.