Recent Keynotes of September 2022

International Agreements

• The Resolution of the President dated 15.09.2022 and numbered 6080 on the Approval of the Memorandum of Understanding About Implementation of the Multilateral Tax Program Between the Government of the Republic of Turkey and the Organization for Economic Cooperation and Development at OECD Ankara Multilateral Tax Center, to be Effective from January 1, 2022 was published in the Official Gazette dated 15.09.2022 and numbered 31954 (1.bis).

Resolutions of the President

• The Resolution of the President dated 14.09.2022 and numbered 6036 on the Promulgation of the Added Resolution on the Stoppage Rates in Provisional Article 67 of Income Tax Code numbered 193, entered into force through publication in the Official Gazette dated 15.09.2022 and numbered 31954.

Legislation

• The Regulation on the Amendment to the Regulation on Conciliation Before Assessment entered into force through publication in the Official Gazette dated 20.08.2022 and numbered 31929.
• The Communiqué (No: 2022/23) on the Amendment to the Communiqué on Establishing Turkish Lira Securities for Foreign Currency Liabilities (Number: 2022/20) was published in the Official Gazette dated 20.08.2022 and numbered 31929.
• The Communiqué (Number: 2022/24) on the Amendment to the Communiqué on the Required Reserves (Number: 2013/15) was published in the Official Gazette dated 20.08.2022 and numbered 31929. This Communiqué enters into force on 16.09.2022.
• The Regulation on the Amendment to the Regulation on Distance Contracts entered into force through publication in the Official Gazette dated 23.08.2022 and numbered 31932.
• The Regulation on the Amendment to the Regulation on Business Licenses entered into force through publication in the Official Gazette dated 25.08.2022 and numbered 31934.
• The Real Estate Tax Law General Communiqué (Serial Number: 81) was published in the Official Gazette dated 25.08.2022 and numbered 31934.
• The Regulation on Transportation Services Organizers entered into force through publication in the Official Gazette dated 27.08.2022 and numbered 31936.
• The Communiqué (Number: 2022/25) on the Amendment to the Communiqué on Required Reserves (Number:2013/15) was published in the Official Gazette dated 31.08.2022 and numbered 31939. This Communiqué enters in force on 02.09.2022.
• The Minimum Attorneyship Fee Tariff entered into force through publication in the Official Gazette dated 03.09.2022 and numbered 31945.
• The Communiqué on the Amendment to the Communiqué on the Charging Service entered into force through publication in the Official Gazette dated 06.09.2022 and numbered 31945.
• The Communiqué on the Books and Records to be Kept by Sports Clubs entered into force through publication in the Official Gazette dated 07.09.2022 and numbered 31946.
• 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 08.09.2022 and numbered 31947.
• The Communiqué on the Procedures and Principles of Mergers and Asset Transfers of Sports Clubs entered into force through publication in the Official Gazette dated 14.09.2022 and numbered 31953.
• The Regulation on the Amendment to the Regulation on Distance Contracts was published in the Official Gazette dated 14.09.2022 and numbered 31953. The provisions of the Regulation will enter into force on different dates.

Competition Board Decisions

• The Competition Board (“Board") granted a block exemption provided by the Block Exemption Communiqué on Vertical Agreements numbered 2002/2 to the Additional Protocol amending the articles of the Dealership and Current Account Agreement contracted between Monsanto Gıda ve Tarım Tic. Ltd. Şti. ile Altuğ Zirai İlaç Tarım San. ve Tic. Ltd. Şti. ve Asc İnş. Tarım Enerji Mad. Gıda San. Tic. Ltd. Şti., Bayagro tarım İlaçları Ltd. Şti., Donatlar Tarım Taş. Hay. Gıda İnş. Yakıt San. ve Tic. Ltd. Şti., Ertar Kimya Tar. Aletleri Paz. San. Tic. Ltd. Şti., Gökhan Tarım İlaçları Tic. ve San. A.Ş., İlhan Tarımsal Toh. Güb. Tic. Ltd. Şti., Kut-san Tarımsal Paz. Tic. Ltd. Şti., Model Gübre İlaç Tarım Ür. Gıda San. Tic. Ltd. Şti., Poler Tarım ve İnş. A.Ş. and Tan Tarım Zir. İlaç San. ve Tic. A.Ş. (8.9.2022, 22-41/567-229)

Mergers and Acquisitions

• The Board authorized the acquisition of the joint control of Kalyon Enerji Yatırımları A.Ş. LLC by International Holding Company PJSC through International Energy Holding. (6.09.2022, 40/547-221)
• The Board decided that the acquisition of the single control of Borealis Group’s technical nitrogen and melamine business line (with its subsidiaries Borealis NITRO or Target Companies) indirectly by AGROFERT a.s (Agrofert Group) is not subject to authorization. (8.9.2022, 41/589-BD)
• The Board decided that the acquisition of the single control of Akay Natural Ingredients Private Limited by Oterra A/S controlled by EQT AB is not subject to authorization. (8.9.2022, 41/588-BD)
• The Board authorized the acquisition of joint control of Fedrigoni S.p.A and subsidiaries by the funds advised by BC Partners LLP and by a fund ultimately managed by Bain Capital Investors L.L.C. (8.9.2022, 22-41/602-253)
• The Board authorized the acquisition of the single control of Hitachi Transport System, Ltd. indirectly by KKR & Co. Inc through HTSK Co., Ltd. (8.9.2022, 22-41/601-252)
• The Board authorized the acquisition of the single control of Westenergie Breitband GmbH indirectly by First Sentier Investors International IM Limited through IIP Glasfaser Investment GmbH. (8.9.2022, 22-41/600-251)
• The Board authorized the acquisition of the single control of BreezoMeter Ltd by Google LLC. (8.9.2022, 22-41/598-249)
• The Board authorized the acquisition of the single control of Knorr-Bremse Systeme für Nutzfahrzeuge GmbH and Knorr-Bremse Commercial Vehicle Systems Japan Ltd jointly controlled by Knorr-Bremse AG and Robert Bosch GmbH by Knorr-Bremse AG. (8.9.2022, 22-41/586-246)
• The Board authorized the acquisition of the indirect joint control of Ports America Group, Inc, controlled by CPPIB PAG Canada Inc. by Oaktree Capital Group Holdings GP, LLC and Brookfield Asset Management, Inc. through Oaktree Transportation Infrastructure Capital Partners GP, L.P. (8.9.2022, 22-41/584-244)
• The Board authorized the acquisition of joint control of Aubert & Duval S.A. by Ace Aero Partenaires, a fund managed by Airbus S.A.S, Safran S.A. and Tikehau Ace Capital S.A.S. (8.9.2022, 22-41/583-243)
• The Board authorized the acquisition of the single control of Klaravik Group AB indirectly by Castik Capital S.à r.l. (8.9.2022, 22-41/582-242)
• The Board authorized the acquisition of the joint control of Vianode AS, which is currently controlled by Elkem ASA, by Hydro Energi Invest AS and Altor Fund V controlled by Altor Fund Manager AB. (8.9.2022, 22-41/578-238)
• The Board authorized the acquisition of the single control of Leoni Kabel GmbH and Leoni Kabel GmbH by Stark Corporation Public Company Limited. (8.9.2022, 22-41/577-237)
• The Board authorized the acquisition of the single control of Koru Sigorta A.Ş., by means of share transfer, by Hedef Group through Namık Kemal Gökalp, Sibel Gökalp and Hedef Holding A.Ş. (8.9.2022, 22-41/577-237)
• The Board authorized the acquisition of BCF1 Economic and Commercial entity as a whole by KİMBCF İplik Sanayi ve Ticaret Anonim Şirketi through TMSF. (8.9.2022, 22-41/571-233)
• The Board authorized the acquisition of the single control of Norgine Europe B.V. and its direct and indirect subsidiaries by The Goldman Sachs Group, Inc. through investments instruments and subsidiaries controlled by The Goldman Sachs Group, Inc. (8.9.2022, 22-41/570-232)
• The Board authorized the establishment of a fully functional joint venture by Abu Dhabi Chemicals Derivatives Company RSC Ltd, Reliance Strategic Business Ventures Ltd and Shaheen Chem Holdings Investments LLC. (8.9.2022, 22-41/569-231)
• The Board authorized the acquisition of the single control of the business line controlled by Ak-taş Dış Ticaret AŞ and Whitechem SA (Aktaş Group) consisting of supply relations related to performance-enhancing additive chemicals used as raw materials in the production of base oil, olefin, motor and industrial lubricants and special chemical ingredients and their complements by EQT AB through Azelis TR Kimya Endüstrisi Ürünleri İth. İhr. Tic. ve San. AŞ. (8.9.2022, 22-41/568-230)
• The Board authorized the acquisition of the joint control of Olam Agri Holdings Pte. Ltd by SALIC International Investment Company, which is a subsidiary fully owned by Saudi Agricultural and Livestock Investment Company, which is itself controlled by Saudi Arabian Public Investment Fund.  (8.9.2022, 22-41/564-228)
• The Board authorized the acquisition of the single control of Tchibo Group by Trivium Vermögensverwaltungs GmbH which currently holds joint control. (8.9.2022, 22-41/563-227)
• The Board authorized the acquisition of single control over certain assets of Derichebourg Environnement by Riva Acier S.A.S. (8.9.2022, 22-41/562-226)
• The Board authorized the acquisition of the joint control of three parts of Suez Group’s special industrial waste business: collection of hazardous waste at landfill, incineration of hazardous waste, and treatment of physicochemical wastes, by Suez S.A., under joint control of Global Infrastructure Management, LLC and Meridiam SAS. (8.9.2022, 22-41/561-225)
• The Board authorized the acquisition of the single control of Contabo Topco GmbH by KKR&Co. Inc through Constellation BidCo GmbH (8.9.2022, 22-41/559-223)
• The Board authorized the acquisition of the joint control over the venture that will be created by the merger of Norstella Topco and Informa Pharma Intelligence by HgCapital LLP; Welsh, Carson, Anderson&Stowe and Warburg Pincus LLC. (8.9.2022, 22-41/558-222)
• The Board decided that the acquisition of the single control of Life Supplies N.V. and its subsidiary Life Supplies B.V by Ravago S.A. through Ravago Chemicals S.A. is not subject to authorization. (15.9.2022, 22-42/619-BD)
• The Board authorized the acquisition of Alleghany Corporation indirectly by Berkshire Hathaway Inc. (15.9.2022, 22-42/625-261)
• The Board authorized the acquisition of the high performing material business line of Lanxess AG and engineering materials business line of Koninklijke DSM N.V indirectly by Koninklijke DSM N.V. (15.9.2022, 22-42/611-257)
• The Board authorized the acquisition of single control of Solarpower Enerji Üretim A.Ş. by İş Portföy Yönetimi A.Ş. Altyapı Girişim Sermayesi Yatırım Fonu. (15.9.2022, 22-42/608-256

Energy

• The Decisions of the Energy Market Regulatory Authority (“EMRA”) dated 25.08.2022 and numbered 11137, 11140, 11141, 11142, 11145, 11146 and 11150 were published in the Official Gazette dated 27.08.2022 and numbered 31936.
• The Decisions of EMRA dated 31.08.2022 and numbered 11156, 11157 ve 11158 were published in the Official Gazette dated 01.09.2022 and numbered 31940.
• The Decisions of EMRA dated 01.09.2022 and numbered 11168, 11170, 11171, 11172, 11174, 11175 and 11176 were published in the Official Gazette dated 03.09.2022 and numbered 31942.
• The Decisions of EMRA dated 08.09.2022 and numbered 11194, 11196, 11197, 11198 and 11200 were published in the Official Gazette dated 08.09.2022 and numbered 31949.
• The Decisions of EMRA dated 15.09.2022 and numbered 11220 and 11228 were published in the Official Gazette dated 17.09.2022 and numbered 31956.