According to the official statement dated 04.01.2024 published on the Competition Authority's official website, the Board has determined the following: *Violation of Article 4 of Law No. 4054 on the Protection of Competition by Nestle Türkiye Gıda Sanayi AŞ. *Impossibility for Nestle Türkiye Gıda Sanayi AŞ. to meet the exemption conditions specified in Article 5 of Law No. 4054 for the actions considered as a violation, *Therefore, imposing an administrative fine of approximately 260,183,629.08TRY on Nestle Türkiye Gıda Sanayi AŞ. in accordance with the first paragraph of Article 5 (b), the second paragraph, and the third paragraph (a) of the Regulation on Fines to be Imposed in Cases of Restrictive Agreements, Concerted Practices, and Abuse of Dominant Position under the third paragraph of Article 16 of the same Law, based on a certain percentage of its gross revenue for the year 2022,
A summary of the commitment package offered by STORYTEL is as follows: *Existing Audiobook Licensing Agreements in effect for one year or longer with publishers/rights holders before the binding date of the commitments will be amended to exclude granting exclusive rights to STORYTEL for producing the audiobook format of a specific book. *Existing Audiobook Licensing Agreements in effect for less than one year before the binding date of the commitments will be amended, eliminating exclusive rights to STORYTEL once the agreement completes its first year from the signing date. *Audiobook Licensing Agreements signed after the binding date of the commitments will not grant exclusive rights to STORYTEL for producing the audiobook format of a specific book. *Content Distribution Agreements will not provide exclusivity/full license to STORYTEL for the content distributed through them. *Voice Acting Agreements will not include an obligation for Voice Actors to exclusively perform voice acting for STORYTEL.
the minimum statutory capital amount specified as fifty thousand Turkish Liras for joint stock companies in the first paragraph of Article 332 of the Turkish Commercial Code No. 6102 has been raised to two hundred and fifty thousand Turkish Liras, and for non-public joint stock companies that have adopted the registered capital system, the minimum initial capital amount specified as one hundred thousand Turkish Liras has been increased to five hundred thousand Turkish Liras. As for limited liability companies, the minimum capital amount specified as ten thousand Turkish Liras in the first paragraph of Article 580 of the same Law has been raised to fifty thousand Turkish Liras.
The inaugural issue of the "Competition Newsletter," which aims to highlight the main activities of the Turkish Competition Authority and share the significant experience gained over a period of more than 25 years, has been released on the official website of the Competition Authority. This issue covers the period from June 2023 to September 2023, featuring the decisions of concluded and newly initiated investigations, as well as interim measure decisions made by the Competition Board.
As stated in the "2022 in Numbers" section of the Annual Report, in 2022, the Turkish Competition Authority concluded 245 Merger & Acquisition files, 78 Competition Violation files, and 19 Exemption & Negative Determination files. In the files concluded in 2022, a total of TRY 1,731,940,315 administrative fines were imposed on undertakings found to be in violation of competition rules according to Law No. 4054. In 2022, the food industry sector had the highest application of administrative fines due to the violation of competition law rules. This was followed by the information technologies and platform services sector, agriculture and agricultural products sector, and healthcare services sector.
Competition Authority Decision Statistics for 2022 were published on the official website of the Competition Authority. According to the statistics; The Authority made a total of 386 decisions in 2022. Mergers and acquisitions accounted for 64% of these decisions, while competition infringements accounted for 20%.
The report, which was prepared within the framework of the data on Mergers, Acquisitions and Privatization transactions concluded by the Competition Board in 2022, mainly includes the following determinations:
Turkish Competition Board has announced its final decision regarding the investigation into some undertakings that are manufacturers/suppliers and retailers operating in the fast moving consumer goods sector.
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