The Turkish Competition Authority (Rekabet Kurumu) has approved the acquisition of horizontal marketplace LetGo Turkey and its car-buying business OtoPlus by fleet-leasing company Hedef Filo.

Hedef Filo reached an agreement with Prosus in July to acquire the latter’s operation in Turkey.

The Competition Authority assented to the deal last month, according to an official document seen by the AIM Group.

Financial terms have not been disclosed, but according to insiders in the Turkish automotive segment, the deal was somewhat of a fire sale:

“They rang many doors, so I think the eventual buyer probably said ‘Let me see if I can make something out of it.’ So the deal terms should have been very low risk, low capital,” a source who wished to remain anonymous told the AIM Group.

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