Turkey’s competition authority (RK) has cleared a deal between conglomerate Koc Holding and Italian lender Unicredit that will see Koc increase its stake in bank Yapi ve Kredi Bankasi.
The antitrust regulator has given the nod to Koc to take full control of Koc Finansal Hizmetler AS, a joint venture the conglomerate owns with Unicredit, RK said in a statement earlier this week.
Koc and Unicredit currently jointly own a 81.9% stake in Yapi Kredi through Koc Finansal Hizmetler, or about a 41% stake each.
Koc agreed in late November to buy the 50% stake in Koc Finansal Hizmetler currently held by Unicredit as part of a deal that will see Koc Finansal Hizmetler further transfer a 31.93% direct stake in Yapi Kredi to Unicredit.
Under the terms, a 9.02% direct stake of the bank will be transferred to Koc. Upon completion, Koc will hold a total of 49.99% stake in Yapi Kredi through direct and indirect ownership, according to an earlier statement.
Full Content: See News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Colorado Senate Rejects Bill Barring Rent-Setting Algorithms
May 2, 2024 by
CPI
Bayer Faces US Antitrust Suit Over Pet Meds Competition
May 2, 2024 by
CPI
Landmark Monopoly Trial Between DOJ and Google Wraps Up
May 2, 2024 by
CPI
Lawmaker Probes FTC and EU’s Role in Amazon’s Failed iRobot Acquisition
May 2, 2024 by
CPI
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI