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New capital markets communique introduces fundamental changes for publicly-traded companies

10/07/2020

Turkey has published and enacted a new communique on Significant Transactions and Exit Right, which will significantly affect the decisions by the senior management of publicly-traded companies. Communique No. II-23.3, which came into force when published in the Official Gazette on 27 June 2020, introduces secondary legislation in line with the Law Amending the Banking Law and Certain Laws No. 7222, which came into effect on 25 February 2020 and amended the Capital Markets Law. The Communique stipulates the principles and procedures for significant transactions, exit rights and the determination of the exit right price. For more information on the main features of the Communique, please see the main article.

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Authors

Portrait ofHülya Kemahli
Hülya Kemahli
Portrait ofArcan Kemahlı
Arcan Kemahlı