Wednesday, 14 July 2021 12:18

Decision 740/2021

Decision on the notification of concentration pursuant to Articles 5-10 of L.3959 on the acquisition of joint control by the Public Power Corporation Renewables S.A. and Geoenergy Aegean Single Member S.A., of company Geothermal Target TWO II Single Member S.A.

Decision 740/2021
File (PDF) Decision 740/2021
Date of Issuance of Decision July 14th, 2021
Issue Number of Government Gazette 
Relevant Market The broader market of production and wholesale supply of electricity in the interconnected and the non-interconnected network in Greece.
Subject of the Decision  Merger
Legal Framework

 Phase I (Article 8 par. 3 of L. 3959/2011) 

Operative part of the Decision Clearance
Acquiring Company(ies)  

PUBLIC POWER CORPORATION RENEWABLES S.A.

GEOENERGY AEGEAN SINGLE MEMBER S.A.
Target company GEOTHERMAL TARGET TWO II SINGLE MEMBER S.A.
Summary of Decision

By its unanimous Decision No. 740/2021, the Chamber of the Hellenic Competition Commission approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the proposed transaction notified on 13/05/2021, concerning the acquisition of joint control by the Public Power Corporation Renewables S.A. (PPC Group) and Geoenergy Aegean Single Member S.A. (ELLAKTOR Group) of company Geothermal Target TWO II Single Member S.A. According to the decision, the HCC considered that the notified transaction, primarily concerning the broader market of production and wholesale supply of electricity in the interconnected and the non-interconnected network in Greece, although it falls within the scope of Art. 6(1) of Law 3959/2011, does not raise serious doubts as to its compatibility with the competition rules in the relevant markets concerned.

Judicial Proceedings -
Decisions by the Administrative Court of Court of Appeal of Athens -
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