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SABANCI / VERBUND / BASKENT
M.5235
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
Each of ÷sterreichische Elektrizit‰tswirtschafts-Aktiengesellschaft ("VERBUND") and H.÷. SABANCI Holding A.S. ("SABANCI") intend to acquire 49% of the shares in Başkent Elektrik Dağıtım A.Ş. ("BASKENT"). As a result of the transaction, BASKENT shall be jointly controlled by VERBUND and SABANCI.
BASKENT is active in the distribution and supply (retail sale) of electric energy in Turkey.
The creation of the joint venture will exclusively have an impact on the energy markets in Turkey. On these markets, BASKENT will benefit from the know-how and experience of its parent companies. VERBUND will provide its knowledge as a major European electricity utility. SABANCI will contribute its experience on the relevant Turkish energy markets.