During its meeting on 3 March 2011, the Competition Board arrived at a decision after evaluating the file regarding the privatizations of İstanbul Anadolu Yakası Elektrik Dağıtım A.Ş., Akdeniz Elektrik Dağıtım A.Ş. and Toroslar Elektrik Dağıtım A.Ş.

In this framework, with regard to the transfer of;

• İstanbul Anadolu Yakası Elektrik Dağıtım A.Ş. (AYEDAŞ),   
• Akdeniz Elektrik Dağıtım A.Ş. (AKDENİZ),   
• Toroslar Elektrik Dağıtım A.Ş. (TOROSLAR),   
• Boğaziçi Elektrik Dağıtım A.Ş. (BOĞAZİÇİ),   
• Gediz Elektrik Dağıtım A.Ş. (GEDİZ),   
• Trakya Elektrik Dağıtım A.Ş. (TRAKYA) and   
• Dicle Elektrik Dağıtım A.Ş.’nin  (DİCLE)

through privatization;

1. the Competition Board concluded, with reference to its decision regarding the privatizations of  BOĞAZİÇİ, GEDİZ, TRAKYA and DİCLE made on 16 December 2010 during the process of distribution privatizations, that Mehmet Kazancı, Esin Kazancı, Begüm Kazancı and Mustafa Kurnaz, who are shareholders of MMEKA Makine İthalat Pazarlama ve Ticaret A.Ş. O.G.G. (MMEKA), one of the bidders, are in the same economic entity as Kazancı Holding A.Ş. and thus as Aksa Elektrik Perakende Satış A.Ş. (AKSA Elektrik) and therefore they must be treated as one single undertaking under the Act No. 4054.

In this framework, with regard to the acquisitions to be made by MMEKA and/or AKSA Elektrik, within the scope of the principles determined in the Board Decision dated 16 December 2010 ruling that the acquisition by İş-Kaya-MMEKA and/or Aksa Elektrik of BOĞAZİÇİ, GEDİZ and TRAKYA, all three at once, may not be authorized;

    - it has been decided that, with respect to the seven regions for which MMEKA and/or Aksa Elektrik made offers; in the event that the size to be reached if BOĞAZİÇİ, GEDİZ and TRAKYA are acquired, all three at once, is exceeded, the acquisitions shall not be authorized,

    - acquisitions smaller than that size may be authorized.
 
 2. with regard to the acquisitions to be made by Yıldızlar SSS Holding A.Ş. (Yıldızlar SSS) and Eti Gümüş A.Ş.-Söğütsen Ser. San. İnş. Mad. İth. İhr. A.Ş. O.G.G. (Eti Gümüş), which is in the same economic entity, within the scope of the principles determined in the Board Decision dated 16 December 2010 ruling that the acquisition by Yıldızlar SSS and/or Eti Gümüş of BOĞAZİÇİ, GEDİZ, TRAKYA and DİCLE, all four at once, may not be authorized;

    - it has been decided that, with respect to the six regions for which Yıldızlar SSS and /or Eti Gümüş made offers; in the event that the size to be reached if BOĞAZİÇİ, GEDİZ, TRAKYA and DİCLE are acquired, all four at once, is exceeded, the acquisitions may not be authorized,

    - acquisitions smaller than that size may be authorized.

3. it has been decided that the acquisition by Park Holding A.Ş. of BOĞAZİÇİ, AYEDAŞ, TOROSLAR and AKDENİZ, all four at once, may not be authorized; however, in the event that out of these four regions only three are acquired by Park Holding A.Ş., those acquisitions may be authorized.
 
4. it has been decided that the acquisitions by Enerjisa Elektrik Dağıtım A.Ş. of AYEDAŞ, AKDENİZ and/or GEDİZ may be authorized.
 
5. with regard to the other undertakings making offers in the tender during the privatization process of AYEDAŞ, AKDENİZ and TOROSLAR, the Board decided that;
   
  a. there is no prejudice in authorizing the acquisition by Cengiz-Kolin-Limgaz Joint Venture Group of AYEDAŞ and/or TOROSLAR, on condition that the structure of this partnership is organized as the combination of electricity distribution activities,

  b. there is no prejudice in authorizing the acquisition by Türkerler İnşaat Turizm Madencilik Enerji Üretim Ticaret ve Sanayi A.Ş. of TOROSLAR,

  c. there is no prejudice in authorizing the acquisition by Emkat Joint Venture Group of AKDENİZ and/or TOROSLAR.