Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Squeeze-out and Sell-out Rights
The Capital Markets Board of Turkey issued this Communiqué to establish the principles and procedures for controlling shareholders to squeeze out minority holders and for minority shareholders to sell their shares upon reaching a 98% voting rights threshold. The document mandates specific calculation methods for exercise prices, detailed timelines for public disclosure and payment, and outlines the procedural steps for share cancellation and delisting. It also includes transitional provisions for existing controlling shareholders and sets a two-year restriction on exercising these rights following the initial public trading of shares.
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