Mergers & Acquisitions

Recent Articles

•  

  27.11.2023

  Turkiye

  Prohibition of Payment in Foreign Currency in Share Transfer Agreements

  Decree No. 32 on the Protection of the Value of the Turkish Lira (the "Decree") and Communiqué No. 2008-32/34 on the Decree (the "Communiqué") have been revised and updated several times in recent years, prohibiting the use of foreign currency in certain payments in order to prevent the depreciation of the Turkish Lira. The Ministry of Treasury and Finance (the "Ministry") amended paragraph (9) of the Communiqué in April 2022, making it mandatory for Turkish residents to make and accept payments in Turkish lira for the sale of immovable property. According to this amendment,...

  Read more
•  

  08.11.2023

  United Kingdom

  CMA goes green with guidance supporting collaboration between businesses on sustainability issues

  With ESG firmly on the corporate agenda, recent guidance from the CMA is intended to give businesses confidence to collaborate across industries and sectors to support sustainability objectives without infringing competition law prohibitions on anti-competitive agreements. Published last month, the guidance (here) forms a key part of the CMA’s commitment to promoting sustainability and helping accelerate the transition to a net zero economy in the UK.Agreements addressed by the GuidanceThe Guidance addresses two forms of agreement:Agreements relating to environmental sustainability between...

  Read more
•  

  07.11.2023

  Germany

  New German competition law gives Federal Cartel Office more power to intervene in markets

  On 7 November 2023, the 11th amendment to the German Act for Restraints against Competition (GWB) went into force after being adopted by the German parliament on 6 July. The legislation follows a draft from the German government from April this year. The recently adopted law is based on this government draft, but includes changes proposed by the economic committee of the German parliament.The 11th GWB amendment sharpens cartel law by strengthening the powers of the German competition authority, the Federal Cartel Office, in three key areas. •    The Federal Cartel Office...

  Read more
•  

  31.10.2023

  Ukraine

  Ukraine introduces methodology for determining beneficial ownership

  On 19 September 2023, the Cabinet of Ministers of Ukraine and the National Bank of Ukraine adopted a resolution approving a methodology for determining ultimate beneficial owners (UBOs) of a legal entity (Methodology). The Methodology became effective on 3 October 2023 and is aimed at improving the process of, and establishing a unified approach towards the determination of beneficial ownership.  The Methodology establishes the procedures for identifying the individuals who exercise control and decisive influence over a legal entity. In particular, it includes guidance on the means of verifying...

  Read more
•  

  13.10.2023

  Ukraine

  Ukraine improves regulations governing representative offices and branches of foreign companies

  On 3 September 2023, Ukraine enacted a new Law regulating the activities of representative offices and branches of foreign companies, which significantly simplifies the procedures for the establishment, registration and liquidation of representative offices and branches of foreign companies.Most of the Law’s provisions will become effective on 3 September 2024.  The key changes introduced by the Law include the following:State registration: the registration, introducing changes and liquidation of representative offices and branches of foreign companies (e.g. companies, financial...

  Read more
•  

  25.09.2023

  Ukraine

  Ukraine advances legislation for state support of projects with significant investments

  In recent years, Ukraine’s government has made attracting investments one of its top priorities. As part of this effort, the Parliament of Ukraine adopted the Law “On Amendments to Certain Legislative Acts of Ukraine on Implementation of Investment Projects with Significant Investments”, which came into force on 17 September 2023. The Law expands financial and operational incentives to companies investing at least EUR 12 million, thus contributing to reconstruction and recovery of Ukraine.The key changes introduced are the following:reducing the minimum required amount of investment...

  Read more