Brief Comment on Easing Restrictions on Foreign Investment in Automotive Manufacturing
On April 10, 2018, President Xi Jinping attended the Boao Forum for Asia (“BFA”) Annual Conference 2018 and delivered a keynote speech stressing that “China will remain unchanged its adherence to reforming and opening up, and will continue to launch new, major measures to pursue further opening.” Following this speech, the National Development and Reform …
Commercial cooperation amongst competitors: the Webtaxi decision of the Competition Council of 8 Jun
On 8 June, the Luxembourg Competition Council exempted an agreement between Benelux Taxis, Inter-Taxis and other tax companies who jointly use the Webtaxi reservation centre for taking bookings from customers
Proposed Amendments to the Competition Act and the Consumer Affairs Act
Government launches public consultation on amendments to the Competition Act and the Consumer Affairs Act.
Quarterly Update on Trade Defense Cases in Turkey, June 2018
In Turkey, the authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, is given to the Ministry of Economy ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette. During the second quarter of 2018, the Ministry has initiated a …
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Turkish Competition Board Acknowledged that Reassessment of a Decision Must Not Harm the Appellant
A. Introduction The Competition Board ("Board") has recently published its reasoned decision[1] in its reassessment of the Turkish Pharmacists Association (Türk Eczacıları Birliği) ("TPA") case, following the annulment decision[2] rendered by the 13th Chamber of the High State Court ("High State Court"). The High State Court's ruling was made as a result of the TPA's …
Sayenko Kharenko advised Mriya Agro Holding
Sayenko Kharenko advised Mriya Agro Holding on the successful debt restructuring and subsequent sale Sayenko Kharenko has advised Mriya Agro Holding for several years in connection with USD 1.1 billion debt restructuring. 13 unsecured bank credits, 7 suppliers’ credits, 1 ECP programme and 2 issues of Eurobonds were restructured in a single secured debt instrument. …
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Bär & Karrer Advises Swiss Prime Site on its Rights Offering
On 28 September 2018, Swiss Prime Site, the largest publicly listed real estate investment company in Switzerland, completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 320 million. 97,7% of the shareholders of Swiss Prime Site exercised their subscription rights in the rights offering. The …
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Bär & Karrer Advises SIG Combibloc Group as Issuer and Onex as Selling Shareholder on the IPO of SI
SIG Combibloc, a leading provider of aseptic carton packaging solutions for the food and beverage industry, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 28 September 2018. With a market capitalization of CHF 3.6 billion and a generating total gross proceeds of CHF 1.5 billion, this …
Bär & Karrer Advises the Joint Bookrunners in the Offering of an Aggregate of USD 8,000,000,000 Not
Nestlé Holdings, Inc. completed an offering of USD 1,000,000,000 3.100% Notes due 2021, USD 1,500,000,000 3.350% Notes due 2023, USD 900,000,000 3.500% Notes due 2025, USD 1,250,000,000 3.625% Notes due 2028, USD 1,250,000,000 3.900% Notes due 2038 and USD 2,100,000,000 4.000% Notes due 2048. The notes were offered and sold by the Joint Bookrunners in …
Recent Developments on the Enforcement and Bankruptcy Law and Concordat
Introduction A significant part of the recent legislative amendments to improve the investment environment are made to Enforcement and Bankruptcy Law (“EBL”) numbered 2004. The amendments made within the scope of Law numbered 7101 on the Amendments in Enforcement and Bankruptcy Law and Certain Laws[i] (“Law numbered 7101”) and the Law numbered 7078 on the …
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