Competition Board conditionally approved the Merger Transaction of Fiat Chrysler Automobiles N.V. and Peugeot S.A.

The final examination of the merger transaction (“Transaction”), which was carried out with the Competition Board’s (“Board”) decision dated 17.07.2020 and numbered 20-34/441-M and planned to be made through the incorporation of Fiat Chrysler Automobiles N.V. and Peugeot S.A. into Fiat Chrysler Automobiles N.V has been concluded.

The Board decided according to the final examination that;

• Transaction would not result in a significant impediment of effective competition in the market of ‘the production and sale of passenger cars’ and in the market of ‘the production and sale of light commercial vehicles with a gross weight of 3.5-6 tons’, within the framework of Article 7 of the Law on the Protection of Competition numbered 4054 (“Law No. 4054”),
• On the other hand, as a result of Transaction, significant impediment of effective competition would occur within the framework of Article 7 of the Law No. 4054 through coordination effects in the market of ‘production and sale of light commercial vehicles with a gross weight of up to 3.5 tons’,
• Within the framework of the commitments submitted by Fiat Chrysler Automobiles N.V. and Koç Holding, conditional permission shall be granted to the transaction.

You may access the full text of the Competition Authority’s announcement here.