The Mergers and Acquisitions ("M&A") Overview Report was published by the Turkish Competition Authority ("Authority") on 06 January2023, for the evaluation of 2022. According to the report, statistics from previous years and 2022 data are presented comparatively. Compared to 2021, both the number of reported transactions and the value of transactions decreased in the year of 2022. One of the reasons for this can be cited as the increase in the turnover thresholds for transactions that will be subject to notification in May 2022 pursuant to the Communiqué Amending the Communiqué No. 2010/4 Concerning the Mergers and Acquisitions Requiring the Approval of the Turkish Competition Board ("Communiqué No. 2022/2").

The prominent findings of the report are as follows:

  • In 2022, 245 merger and acquisition transactions were examined by the Competition Authority.
  • Excluding privatization transactions, target companies was established under the laws of the Republic of Türkiye in 82 of the transactions. The total value of these transactions, amounted to 72 billion 209 million Turkish Liras ("TL").
  • In 3 of the 7 privatization transactions examined in 2022, the approximate transaction value was 14 billion TL.
  • In 39 of the 245 transactions analyzed in 2022, all parties were Türkiye- based, while in 145 of the transactions, all parties were companies incorporated under the laws of foreign countries.
  • Excluding privatizations, the transaction value of transactions in which all parties were Türkiye- based was approximately 25 billion 73 million TL. This amount was 5 trillion 580 billion TL for transactions in which all parties were foreigners.
  • During this period, as for 36 M&A transactions, it was reported that 43 billion TL would be invested in these Türkiye-based companies
  • The highest transaction value for Turkish companies was in the "generation, transmission and distribution of electrical energy" sector with 8.35 billion TL for M&A. In 2022, the highest number of transactions by sector was again in the "generation, transmission and distribution of electrical energy" sector with 8 transactions.
  • For 2022, the highest transaction value of privatization transactions was in the field of "airport operations" with 9.75 billion TL.
  • In the Authority report, the prominent sectors in which investments are made around the world are listed as follows:
    • Wholesale, retail trade and repair of motor vehicles and motorcycles
    • Programming and publishing activities
    • Installation and repair of machinery and equipment
    • Manufacture of basic pharmaceutical products
    • Financial services

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.