The Competition Board has taken the application regarding the acquisition of the sole control of Sörmaş Söğüt Refrakter Malzemeleri A.Ş. by RHI Magnesita NV under final examination with its decision dated 03.02.2022 and numbered 22-07/93-M.
As it is known, the Competition Board is in charge of monitoring mergers and/or acquisitions which would result in significant lessening of efficient competition in markets according to article 7 of the Act no 4054 on the Protection of Competition. The Board may deal with a transaction under final examination if an in-depth examination is needed about its effects on the competitive structure of the market within the scope of article 10 of the Act.
A merger/acquisition notified to the Board is suspended and cannot be put into practice until the final decision is taken according to article 10 of the Act. However, being subject to final examination does not mean that the transaction cannot be authorized.