Koroplast issued a statement regarding the administrative fine imposed on it following the investigation by the Competition Authority.
Conclusion of the Competition Authority Investigation
The investigation initiated by the Competition Authority on June 27, 2024, aimed to determine whether Koroplast violated Article 4 of the Law No. 4054 on the Protection of Competition. During the investigation process, the company applied for a settlement with the Competition Authority. However, in order to avoid misleading investors and breaching confidentiality obligations, no information was shared with the public until the process concluded.
Koroplast Fined 31 Million TL
As a result of the settlement negotiations, Koroplast accepted the administrative fine and the terms outlined in the settlement agreement. Consequently, on October 3, 2024, the Competition Authority decided to impose a final fine of 31,209,736.96 TL on the company. It was noted that a 25% discount was applied to this fine due to the settlement. Additionally, there is an option to pay the fine with an extra 25% discount within 30 days of the notification of the reasoned decision.
The impact of this fine on Koroplast’s financial performance will be closely monitored. The investigation by the Competition Authority and subsequent developments may also influence the company’s strategies for the upcoming periods.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
