06.05.2025 14:21
The sale of the famous shopping platform N11 has been approved by the Competition Authority. Accordingly, the acquisition of 100% of N11 Electronic Commerce and Information Services Inc. by DMSF Holding Limited has been formalized.
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A significant development has occurred that will change the balance in Turkey's e-commerce sector. The Competition Authority approved the acquisition of all shares of N11 Electronic Commerce and Information Services Inc. by Abu Dhabi-based DMSF Holding Limited. Following the acquisition of Hepsiburada by Kazakhstan-based Kaspi.kz in recent months, this decision has resulted in all major e-commerce platforms in Turkey coming under the control of foreign investors.
APPROVAL FOR SALE FROM THE COMPETITION AUTHORITY
In the decision published on the official website of the Competition Authority, it was stated that the acquisition was examined under the Law No. 4054 on the Protection of Competition, and it was concluded that it would not significantly restrict competition, thus permission was granted for the transaction. The Authority emphasized that it did not encounter any findings that would pose an obstacle to the transaction.
THE STORY OF N11: FROM LOCAL PARTNERSHIP TO FOREIGN INVESTMENT
Founded in 2013 through the collaboration of Doğuş Group and South Korea-based SK Group, N11 has become a significant player in the Turkish e-commerce market. Acquired by Getir in 2023, the company was transferred to Borançılı Technology, owned by Serkan Borançılı, one of Getir's founders, in 2024. The sale of the company to DMSF Holding this time completed the last link in the chain of local ownership and indicated that a new era has begun for N11's future.
MAJOR PLAYERS IN THE SECTOR ARE NOW FOREIGN CAPITAL-OWNED
With the transfer of N11 to a foreign group, all major e-commerce platforms operating in Turkey have come under foreign capital control. Previously, Trendyol was sold to the Chinese Alibaba group, and Hepsiburada was recently transferred to foreign investors. These developments once again demonstrate that the digital commerce market in Turkey has become a focal point of global capital.
WHO IS DMSF HOLDING?
Abu Dhabi-based DMSF Holding Limited is known for its investments, particularly in technology and the digital economy. The acquisition of N11 has been recorded as the company's first major e-commerce investment in Turkey. According to experts, this step is a significant move in line with DMSF's regional expansion strategy.
WILL NEW OWNERSHIP BRING NEW STRATEGIES?
It remains to be seen how the new management will position the N11 brand and differentiate itself in the competitive market. Industry experts predict that both technology investments may increase and new business models may be implemented.
STATEMENT FROM THE COMPETITION AUTHORITY
In a previous announcement published by the Competition Authority, it was stated that "The acquisition of 100% of the shares of N11 Electronic Commerce and Information Services Inc. by DMSF Holding Limited is evaluated within the framework of Article 7 of Law No. 4054 on the Protection of Competition and relevant legislation." The Authority gave the green light for the acquisition by deciding that the transaction would not harm the competitive environment after detailed examinations.
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