Exchange Rate Required to be Used to Convert Turnover and Asset Values under Turkish Merger Control Regime

For converting the annual turnover of an undertaking in foreign currency to TL, average buying rate of exchange of the Central Bank of Turkey for the financial year the turnover is generated is taken into consideration as the rate of exchange.

For more information on exchange rate required to be used to convert turnover and asset values under Turkish merger control regime, please feel free to reach out to ELIG Gurkaynak at +90 212 327 1724 or through gonenc.gurkaynak@elig.com.