24 January 2023
The Economic Analysis and Research Department of the Turkish Competition Authority (the "TCA") published its report on mergers and acquisitions for the year 202 (the "Report") on its official website on 6 January 2023.
Giving a snapshot of the TCA's M&A activities, the Report contains various comparative statistics regarding the transactions notified to and approved by the TCA in 2022.
Significant figues on the M&A notification in 2022 covered in the Report may be summarised as follows:
Other highlights of the Report are as follows:
The Report indicates a decrease in both the number and the value of notified transactions. This can be justified by the significant increase in turnover thresholds from 4 May 2022, together with the devaluation of the Turkish lira.
 Calculated in accordance with the Turkish Central Bank's average buying exchange rate for 2022. The exchange rate for the EUR 1 is TRY 17.38.
 Even though the Report mentioned the approval of only one of the transactions, according to information provided on the TCA's official website, the Competition Board granted approval for the Saint-Gobain and Dalsan transaction on 08 December 2022 and the Migros and Aymar transaction on 23 June 2022.
 TCA's Communiqué No 2022/2 on Amending Communiqué No 2010/4 Concerning Mergers and Acquisitions Requiring the Approval of the TCA.