The Hellenic Competition Commission has approved to Motor Oil's deal with Ellaktor
The Hellenic Competition Commission has approved to Motor Oil's deal with Ellaktor
  Deals  |  Sustainability  |  Economy  |  Greece

The Hellenic Competition Commission has approved to Motor Oil's deal with Ellaktor

RE+D magazine
22.11.2022

The Hellenic Competition Committee unanimously approved, with the no. 799/2022 decision and according to Article 8 paragraph 3 of Law 3959/2011, the acquisition of exclusive control by the company with the name "MOTOR OIL RENEWABLE ENERGY MONOPROSSOPI S.A.", a 100% subsidiary company of "MOTOR OIL (GREECE) KORINTH REFINERIES S.A.", on the activity of renewable energy sources which is currently under the exclusive control of the company with the name "ELLAKTOR S.A."

The act under consideration refers to the purchase of the production/supply of electricity at wholesale level and the supply of electricity at retail level.

According to the Decision, the transaction in question will not bring about changes in the structure of the aforementioned relevant markets, as it will not eliminate any significant and active competitive pressure and, consequently, it is judged that it will not affect the level of competition in the relevant markets concerned.

So, with the above Decision, the Departmental Competition Committee decided that although the concentration in question falls within the scope of paragraph 1 of article 6 of Law 3959/2011, it does not cause serious doubts as to its compatibility with the requirements of the operation of competition , in the individual markets it concerns.