Economy

Turkish e-commerce giant Trendyol officially sold to Alibaba

While Amazon’s Turkey a short time to enter the market, the world’s largest retailer of Chinese giant Alibaba, founded in 2009, has been approved by Turkey’s leading e-commerce platform Trendyol Almas buy from the Competition Authority.

Alibaba’s ‘largest e-commerce investments in Turkey’ as announced by price, but information regarding the purchase of official confirmation came not given Trendyol.
In Turkey, as in many countries, large acquisitions and mergers of this kind, you need to go through the approval of the Competition due to competition legislation.

Turkey in this manner that the competent authority in the purchase of the Competition Authority, has approved the purchase of Alibaba, Trendyol.

Although it was announced on 28 June that Alibaba invested in Trendyol, there was no information about the amount of investment.

The statement on the website of the Competition Authority said:
‘The acquisition of the sole control of DSM Grup Danışmanlık İletişim ve Satış Ticaret A.Ş. by Alibaba.com Singapore E-Commerce Private Limited was allowed. ‘

Some circles ‘made so far in Turkey as the biggest investment’ an official figure related to defined this purchase not shared Also, Trendyol with this purchase some sources, the value of claims to become the first Turkish attempt to exceed $ 1 billion.

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