The Communiqué regarding Mergers and Acquisitions Calling for the Authorization of the Competition Board (Communiqué No. 2010/4) (published in the Official Gazette dated October 7, 2010 and No. 27722) grants parties to a merger or acquisition transaction, for which Competition Board clearance is required, the right to make commitments to the Competition Board if clearances are granted subject to the fulfilment of certain conditions and/or obligations.

In this regard and based on Communiqué No. 2010/4, a Draft Guideline (the “Guideline”) regarding commitments to be provided to the Competition Board concerning mergers and acquisitions has been launched. The Guideline intends to provide guidance on commitments regarding particular concentrations in breach of different aspects of competition that the Competition Board may deem present under certain circumstances.

The Guideline sets out the principles applicable to commitments the Competition Board may accept, the main types of acceptable commitments, specific requirements commitments must meet and requirements for the implementation of commitments. The Guideline declares that the proposed commitment must be based on legal and economic principles; it is expected to eliminate concerns arising from concentration and maintain the competitive structure of the market.