Recent Keynotes of October 2018

International Agreements

  • The Resolution of the President dated 21.09.2018 and numbered 109 on the Approval of the Agreed Minutes of the Second Session of the Turkish-Afghan Joint Economic Commission was published in the Official Gazette dated 22.09.2018 and numbered 30543.
  • The Resolution of the President dated 11.10.2018 and numbered 175 on the Approval of the Biennial Collaborative Agreement between the Ministry of Health of the Republic of Turkey and the Regional Office for Europe of the World Health Organization 2018/2019 was published in the Official Gazette dated 12.10.2018 and numbered 30563.

Resolutions of the President

  • The Resolution of the President dated 01.10.2018 and numbered 138 on the Implementation of the Resolution on the Application of the Temporary Protection Measures for the Importation of Iron-Steel Products was published in the Official Gazette dated 02.08.2018 and numbered 30553.
  • The Resolution of the President dated 10.10.2018 and numbered 162 on the Amendment to the Resolution on the Treasury Support Provided for the Credit Guarantee Corporations was published in the Official Gazette dated 11.10.2018 and numbered 30562.
  • The Resolution of the President dated 16.10.2018 and numbered 186 on the Implementation of the Resolution on the Determination of the Strategies and Measures to be applied by the Public Enterprises and their Subsidiaries according to the General Investment and Finance Program 2019 was published in the Official Gazette dated 17.10.2018 and numbered 30568.

Legislation

  • The Procedures and Principles on the Amendment to the Procedures and Principles regarding the Construction Registration Certification was entered into force through publication in the Official Gazette dated 20.09.2018 and numbered 30541.
  • Communiqué (No: 2018/7) on the Amendment to the Communiqué (No: 2016/8) regarding the Highest Interest Rates to be applied to Credit Card Transactions was entered into force through publication in the Official Gazette dated 20.09.2018 and numbered 30541.
  • The Investment Incentive Certificates List of July, 2018, and Cancelled Investment Incentive Certificates List of July, 2018, were published in the Official Gazette dated 26.09.2018 and numbered 30547.
  • The Regulation on the Amendment to the Regulation on the Natural Gas Market Tariffs was entered into force through publication in the Official Gazette dated 27.09.2018 and numbered 30548.
  • The Regulation on the Amendment to the Regulation regarding Rules and Principles to be applied to Retail Trade was entered into force through publication in the Official Gazette dated 28.09.2018 and numbered 30549.
  • The Communiqué (No: 2018-32/51) on the Amendment to the Communiqué (No: 2008-32/34) regarding Decree No. 32 on the Protection of the Value of the Turkish Currency was entered into force through publication in the Official Gazette dated 06.10.2018 and numbered 30557.
  • The Regulation on the Amendment to the Regulation regarding Payment Services and Electronic Money and Payment Corporations and Electronic Money Corporations was entered into force through publication in the Official Gazette dated 12.10.2018 and numbered 30563.
  • The Regulation on the Amendment to the Regulation on the Procedures and Principles regarding the Classification of the Credits and their Equivalents to be Reserved was entered into force through publication in the Official Gazette dated 18.10.2018 and numbered 30569.
  • The Regulation on the Amendment to the Regulation on the Procedures and Principles regarding the Acceptance and Withdrawal of the Deposit and Participation Fund and Time-Barred Deposits, Participation Fund, Custody and Claims was entered into force through publication in the Official Gazette dated 18.10.2018 and numbered 30569.
  • The Communiqué on the Amendment to the Communiqué regarding the Uniform Accounting Plan and its Prospectus to be applied by the Participation Banks was entered into force through publication in the Official Gazette dated 18.10.2018 and numbered 30569.

Competition Board Decisions

  • The Competition Board (“Board”) decided that the Domestic Plane Fuel and Loading Service Purchase Framework Agreement between THY OPET Havacılık Yakıtları A.Ş. and Türk Hava Yolları A.O. benefits from a group exemption in Antalya, Dalaman (Muğla), Sabiha Gökçen (İstanbul), Çorlu (Tekirdağ), Tokat and Siirt Airports, where the market share of THY OPET Havacılık Yakıtları A.Ş. is below 40%, and granted individual exemption to the Agreement in Atatürk, Adana, Adıyaman, Ağrı, Aydın-Çıldır, Diyarbakır, Esenboğa (Ankara), Elazığ, Erhaç (Malatya), Erkilet (Kayseri), Erzincan, Erzurum, Ferit Melen (Van), Batman, GAP (Şanlıurfa), Bingöl, Gaziantep, Cengiz Topel (Kocaeli), Hatay, Çanakkale, Iğdır, Çardak (Denizli), Kahramanmaraş, Çarşamba (Samsun), Zafer (Kütahya), Konya, Kars, Merzifon (Amasya), Kastamonu, Nuri Demirdağ (Sivas), Kocaseyit (Balıkesir), Yenişehir (Bursa), Mardin, Muş, Hakkâri, Şerafettin Elçi (Şırnak), Ordu-Giresun, Sinop, Uşak and Trabzon Airports where the market share of THY OPET Havacılık Yakıtları A.Ş. is over 40%m as all conditions under Article 5 of Law numbered 4054 have been satisfied. (26.9.2018, 18-34/562-277)

Mergers and Acquisitions

  • The Board authorized the acquisition of the shares of Turkland Sigorta A.Ş. by Maher Yatırım Holding A.Ş. (26.9.2018, 18-34/568-281)
  • The Board authorized the acquisition of the shared control of Avolon Holdings Limited, which is under the sole control of Bohai Capital Holding Co. by Orix Aviation Systems. (26.9.2018, 18-34/567-280)
  • The Board authorized the acquisition of the sole control of Treofan Holdings GmbH by Blitz F18-52 GmbH (it will be registered as Jindal Poly Films Germany GmbH). (26.9.2018, 18-34/564-278)
  • The Board authorized the acquisition of the sole control of Danske Commodities A/S by Equinor Refining Norway AS. (26.9.2018, 18-34/561-276)
  • The Board authorized the acquisition of the sole control of Adoçim Antalya Çimento Beton Sanayi ve Ticaret A.Ş., which will be established by the demerger of Adoçim Çimento Beton San. ve Tic. A.Ş. by Cem Sak and, following this transaction, the acquisition of one-half of the Adoçim Çimento Beton San. ve Tic. A.Ş shares owned by Cem Sak and, in this manner, the sole control of the company by Salentijn Properties 1 BV, which is already a shareholder. (04.10.2018, 18-37/597-292)
  • The Board authorized the acquisition of the sole control of Sanyo Special Steel Co. Ltd. by Nippon Steel & Sumitomo Metal Corporation. (04.10.2018, 18-37/596-291)
  • The Board authorized the acquisition of the sole control of cinema and television studios, entertainment-themed cabled networks, and international broadcasting branches of Twenty-First Century Fox, Inc. by The Walt Disney Company. (04.10.2018, 18-37/595-290)
  • Ultimately, the Board authorized the acquisition of the sole control of Acıbadem Sağlık ve Hayat Sigorta A.Ş. and, indirectly, its 100% subsidiary, Acıbadem Grubu Sigorta Aracılık Hizmetleri A.Ş., by Bupa International Markets Limited. (04.10.2018, 18-37/592-289)
  • The Board authorized the establishment of a joint venture that will be mutually controlled by EQT VI Limited, EQT Fund Management S.â.r.l. and Widex Holding A/S, and will incorporate the activities of Sivantos Pte. Ltd., Widex A/S and their subsidiaries. (04.10.2018, 18-37/589-288)
  • The Board authorized the acquisition of certain of the assets of MaxamCorp Holding S.L. by Prill Holdings S.a.r.l, which is the subsidiary of Rhone Capital L.L.C. (04.10.2018, 18-37/586-287)
  • The Board authorized the transaction of the incorporation of the activities, including the global paper and water chemicals business branch of BASF SE and, Solenis International L.P., which is a portfolio company of Clayton, Dubilier & Rice, and its affiliates,. under a new joint venture company. (11.10.2018, 18-38/608-297)
  • The Board authorized the acquisition of all of the shares of Goat TopCo GmbH by Grupa Azoty S.A. (11.10.2018, 18-38/607-296)
  • The Board authorized the acquisition of certain of the assets of Altınyağ Kombinaları A.Ş. and its affiliate, Gürtaş Tarım Enerji Yatırımları Sanayi ve Ticaret A.Ş., by Yakamoz Yağ Sanayi ve Ticaret A.Ş. (11.10.2018, 18-38/606-295)

Energy

  • The Regulation on the Amendment to the Regulation regarding the Electricity Market Connection and System Usage was entered into force through publication in the Official Gazette dated 29.09.2018 and numbered 30550.
  • The Regulation on the Amendment to the Regulation regarding the Service Quality of the Electricity Distribution and Retail was entered into force through publication in the Official Gazette dated 09.10.2018 and numbered 30560.
  • The Regulation on the Amendment to the Regulation regarding the Documentation and Support of the Renewable Energy Resources was published in the Official Gazette dated 09.10.2018 and numbered 30560, and shall enter into force on 01.01.2019.