Article 257 of Companies Law

Merger by consolidation shall be effected by following these procedures: 1 - A resolution for dissolution shall be issued by each of the merging companies. 2- The new company shall be incorporated in accordance with the procedures prescribed in this Law. However, if the new company is a shareholding company, the report valuing the contributions in kind prepared pursuant to Article 11 of this Law shall be adopted without the need to submit the matter to the constituent assembly. 3- Each merging company shall be allocated a number of equity interests or shares equivalent to its interest in the capital of the new company, and these equity interests or shares shall be distributed among the partners in each merging company in proportion to their interests therein. Law Index 1514 Home Page Companies Law Law No. 1 of 2016 Promulgating the Companies Law If the equity interests in the new company are represented by shares, and the periods prescribed in this Law concerning trading in the company's shares have elapsed since the incorporation of each of the merging companies, these shares may be traded immediately upon their issuance.