Merger Case and Accounting Practices in Asset Management Companies

It is known that in the globalizing world, capital know no bounds, both the national and the international corporations engage in business combination with the aim of benefiting from some advantages. Due to the bank crises in our country which started in 2000, problem loans have increased and many banks have had to be seized by the TMSF. These problematic loans negatively affected the image of the banks and the market value. Asset Management Companies (AMC) were established in 2002 in order to raise the market value of the banks and to get rid of these problem loans and these companies have been audited by the BBDK since 2005. The purpose of these companies is to take over the overdue receivables of banks and financial institutions, to manage and develop the transferred assets, to maximize their value, and to evaluate the receivables through specialists of collateral assets (real estate, stocks etc.). According to the first paragraph of 155th article of the new Turkish Commercial Code no. 6102, if the transferee has the all shares with voting right of the assignee capital stock company or if a company or a real person or groups of connected due to law or contract has all voting rights of capital companies participating in the merger, capital companies can merge in simplified manner. In this study, AMC merger which is the main subject of our study is discussed, and transactions of the merger of the two AMCs in Turkey and theaccounting practices are included