[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_MaterialEventDisclosureGeneralAbstract|
Material Event Disclosure General
oda_UpdateAnnouncementFlag|
Update Notification Flag
Evet (Yes)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
20.10.2021
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

In our public disclosure on 20 October 2021, it was stated that, with regard to the Turkish Competition Authority's investigation on pricing behaviors of supermarket chains and their suppliers operating in the sectors of food retail and cleaning materials during COVID-19 pandemic, our Company would attend the oral hearing on 27 October 2021 in order to defend itself against all claims brought by the Competition Authority.

According to the announcement published on Competition Authority's official website and the final decision notification declared to our Company;

  • it has been resolved that Yeni Mağazacılık A.Ş., BİM Birleşik Mağazalar A.Ş., CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş., Şok Marketler Ticaret A.Ş., Savola Gıda ve Sanayi Ticaret A.Ş. and our Company violated Article 4 of the Law on the Protection of Competition No. 4054 ("the Law"),
  • thus it has been decided to impose our Company a monetary fine amounting to TL 517,672,762.75, corresponding to 1.8% of our Company's annual gross revenue for 2020 fiscal year as per the third paragraph of Article 16 of the Law and Article 5(1)(a), 5(2), 5(3)(a) and 7(1) of the Regulation on Fines to Apply in cases of Agreements, Concerted Practices and Decisions Limiting Competition, and Abuse of Dominant Position.

The decision may be challenged before the Ankara Administrative Courts within 60 days following the official notice of the reasoned decision.

Our Company does not accept the aspects against our Company stated in Competition Authority's decision and will file an annulment action following the official notice of the reasoned decision.

Migros Ticaret A.Ş. always operates in line with its principles of honesty and trustworthiness and fully compliant with all legislations. We maintain our continuing dedication for 67 years to offer the best quality products and services at the affordable prices to our customers without interruption.


( In case of a discrepancy between the Turkish and the English versions of this disclosure, the Turkish version shall prevail.)