Migros is opting to restructure the administrative fine imposed by the Competition Authority.
In the statement sent to the Public Disclosure Platform (KAP), Migros provided the following information:
Migros has decided to take advantage of the restructuring opportunity provided under the “Law on the Restructuring of Certain Debts and Amendments to Some Laws” published in the Official Gazette dated 12.03.2023 and numbered 32130, under the 4th paragraph of Article 3 and Articles 9/3-a-2 and 9/15. This decision is related to the administrative fine imposed by the Competition Board, which was previously announced by the company.
As part of this decision, the company will waive the lawsuit filed for the cancellation of the relevant Competition Board decision. With this decision, there will be no additional payment obligation for the company, and an application will be made to the relevant Tax Office Directorate for the refund of the amount of 194,127,286.03 TL, calculated based on the previously paid amount of 388,254,572.06 TL.
Migros A.Ş. is a major retail company in Turkey. It operates a chain of supermarkets and hypermarkets offering a wide range of products including groceries, household items, clothing, electronics, and more. Migros is known for its extensive network of stores across Turkey and has a significant presence in the retail industry. The company focuses on providing quality products and services to its customers and has established itself as a trusted brand in the Turkish market.