Forth Week (22 - 28 September 2014)

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22 September 2014 – 28 September 2014
“ 39
Volume 13, Issue
TABOGLU & DEMIRHAN
Newsletter
cont’d.
CAPITAL MARKETS UPDATE S

Pursuant to the Weekly Bulletin of the Cap ital 
Markets Board, Is Bankasi and Finansbank are
planning to issue debt instruments in the
amounts of TL 20 trillion and TL 10 t rillion,
respectively.
Accordingly,
the
debt
instruments are planned to be sold through
public offering or without public offering via
private placement or to qualified investors.

As per the Weekly Bullet in of the Capital
Markets Board, Yesil Gayrimenku l Yat irim
Ortakligi and Akdeniz Faktoring will issue
debt instruments in the amounts of TL 100
million and TL 50 million, respectively.
Accordingly, the debt instruments are planned
to be sold to qualified investors.

According to the Weekly Bulletin of the 
Capital Markets Board, Turkasset Varlik
Yonetim, Net Ho lding, Aktif Yatirim Bankasi
and Bankpozitif Kredi ve Kalkin ma Bankasi
will issue debt instruments in the amounts of
TL 180 million, TL 600 million, TL 945
million and TL 400 million, respectively. As
per the Bulletin, the issued debt instruments
are planned to be sold through public offering
or without public offering via private
placement or to qualified investors.

Pursuant to the Weekly Bulletin of the Cap ital
Markets Board, the Board has granted
approval to Ak Yat irim Menkul Degerler to
provide portfolio custodian services within the
scope of the Commun iqué on Portfolio 
Custodian Services and Providers of such
Services serial numbered III-56.1.

Highlights
a. Capital
Updates
Market
b. Competition News
The offering circular of Gedik Yat irim Menkul
Degerler for the issuance of new shares has
been approved by the Capital Markets Board.
Accordingly, the Company has issued new
shares by increasing its share capital from T L
46,800,000 to TL 56,160,000 TL 8,866,435 of
which has been increased from internal
resources and the rest from div idends.
cont’d.
As per the Weekly Bullet in of the Capital
Markets
Board,
GSD
Den izcilik
Gayrimenkul Insaat Sanayi ve Ticaret has
applied to the Board to obtain its approval
for the announcement text for its merger
with GSD Dis Ticaret. Due to such
merger the share capital of the Company
will be increased by TL 22,180,855.64. In
addition, Silopi Elektrik Uret im has
applied to the Board to obtain its approval
for the announcement text for its merger
with Park Elekt rik Uret im Madencilik
Sanayi ve Ticaret. The share capital of
Silopi Elekt rik Uretim will increase by TL
27,825,285 upon the completion of the
merger.
Pursuant to the Weekly Bulletin of the
Capital Markets Board, the Board has
granted approval for the establishment of
companies namely Kalender Gayrimenkul
Portfoy Yonetimi and 24 Gayrimenkul
Portfoy Yonetimi each with share capitals
of TL 1 million and registered share
capital ceilings of TL 5 million to provide
portfolio custodian services. Similarly, the
Board has approved the establishment of a
portfolio management co mpany namely
Go zde Portfoy Yonetimi with a share
capital of TL 2 million and a reg istered
capital ceiling of TL 10 million to provide
the
same
services
as
Kalender
Gayrimenkul Portfoy Yonetimi.
Bilim Ilac Sanayi ve Ticaret has applied to
the Capital Markets Board to be excluded
fro m the scope of the Capital Markets
Law. According to the Weekly Bulletin of
the Board, the Board has granted approval
for the applicat ion of the Co mpany on the
grounds that 95% of the share capital of
the Company is owned by a maximu m of
50 shareholders which is in co mpliance
with the Co mmun iqué on the Exclusion of
Co mpanies fro m the Scope of the Capital
Markets Law and Obligations with regard
to Trading on the Exchange.
cont’d.
Page 2
cont’d.

cont’d.
As per the Weekly Bulletin of the Capital
Markets Board, the Board has provided its
affirmat ive opinion regarding the change in the
shareholding of Halk Portfoy Yonetimi.
Accordingly, the previous shareholders of the
Co mpany namely Halk Hayat Emeklilik, Halk
Sigorta and Halk Finansal Kiralama have
transferred their shares to Turkiye Halk
Bankasi and the share ratio of Turkiye Halk
Bankasi has increased by 19% and reached
approximately 75% of the total share capital of
the Co mpany.
COMPETITION NEW S
The aim of this weekly
newsletter is to highlight
mainly the regulatory
changes made by the
Turkish
Government
during the relevant week.
The content of this bulletin
is limited to those areas
Taboglu & Demirhan
advises its clients.
It
contains
a
general
summary of the changes
and the areas it covers are
broader. Thus, one should
not rely on it for specific
advice.
For further
information or advice
please contact Taboglu &
Demirhan, a full-service
law firm based in Istanbul.

According to the official website of the
Co mpetition Board, the investigation initiated
in order to determine whether Termopet
Akaryakit Nakliyat
has violated
the
Co mpetition Law nu mbered 4054 through
vertical agreements and various practices, has
been concluded. The investigation was
launched in response to a complaint which
claimed that Termopet Akaryakit Nakliyat
failed to terminate a vertical agreement it had
executed in relation to the distribution and sale
of fuel with in the time period specified in the
decision previously taken by the Competit ion
Board. As a result of the investigation, it was
decided that Termopet Akaryakit Nakliyat ve
Ticaret has not violated the Competition Law
numbered 4054.

Pursuant to the dailies, the Co mpetit ion Board
has granted its permission for the acquisition
of the majority shares of Enka Insaat in Pimas
Plastik Insaat Malzemeleri by Deceuninck N.V
on the grounds that it will not create or
strengthen a dominant position or prevent
competition as per the Commun iqué numbered
2010/4 on Mergers and Acquisitions.
cont’d.



Pursuant to the dailies, the applicat ion for
the acquisition of a cement facility in
Bilecik Province owned by Sancim
Bilecik Cimento Madencilik Beton by
Cimsa Cimento Sanayi ve Ticaret A.S is
subject to final examination of the
Co mpetition Board.

According to the official website of the
Co mpetition Board, the investigation
conducted
to
determine
whether
Tekhnelogos
Yazilim
Muhendislik,
directly or ind irectly inconvenienced the
delivery of natural gas domestic
installation projects and obligated the use
of the online submission/approval system
(DIPOS Plus) and whether in projects
submitted via DIPOS Plus it indirectly
forced
companies
to only
make
transactions through its own insurance
agency Uc Elma Sigorta Aracilik
Hizmetleri. Du ring the investigation, the
agreement executed with Baskentgaz
Dogalgaz Dagit im concerning the online
submission of natural gas projects was
also evaluated in order to determine
whether it prevents the operations of the
competing insurance companies. As a
result, the Competition Board imposed
administrative fines on Uc Elma Sigorta
Aracilik Hizmetleri and Tekhnelogos
Yazilim Muhendislik.
 Pursuant to the dailies, the Competition
Board has granted its permission for the
acquisition of 51% of the shares of Teknik
Aluminyum, by Norsel International BWI
on the grounds that it will not create or
strengthen a dominant position or prevent
competition as per the Co mmuniqué
numbered 2010/4 on Mergers and
Acquisitions.
TABOGLU & DEMIRHAN
Attorneys at Law
Levent Cad. No. 9
1. Levent, 34330,
cont’d. Istanbul, Turkey
E-MAIL: [email protected]
www.taboglu.av.tr
PHONE: (212) 339 8800
FAX: (212) 339 8899