The application concerning the acquisition of Pirelli Tyre SpA’s steel cord business line by NV Bekaert SA was taken under final examination according to the decision of the Competition Board dated 22.10.2014 and numbered 14-42/768-M.

As it is known, the Competition Board is in charge of monitoring mergers and/or acquisitions which would result in significant lessening of competition in markets according to article 7 of the Act no 4054 on the Protection of Competition. Within the scope of article 10 of the Act, the Board may decide to deal with a transaction under final examination if an in-depth examination is needed about its effects on the competitive structure of the market.

A merger/acquisition notified to the Board is suspended and cannot be put into practice until the final decision as per article 10. However, being subject to final examination does not mean that the transaction cannot be authorized.