Thursday, 17 March 2022 00:00

Decision 771/2022

Clearance decision on the notified concentration, pursuant to articles 5-10 of L.3959/2011, as in force,  regarding the acquisition by the company under the name “SIEMENS ENERGY AG” through its indirect subsidiary under the name "SIEMENS GAS AND POWER HOLDING B.V.", part of the “SIEMENS ENERGY” group, of sole control over the Greek Energy Branch of the company under the name "SIEMENS ELECTROTECHNICAL PROJECTS AND PRODUCTS SOCIETÉ ANONYME" through its partial division and acquisition by the company under the name “SIEMENS ENERGY SINGLE-MEMBER PUBLIC LIMITED COMPANY”, a special purpose vehicle, wholly owned by “SIEMENS GAS AND POWER HOLDING B.V.”

Decision 771/2022

File (PDF) Decision 771/2022
Date of Issuance of Decision March 17th2022
Issue Number of Government Bulletin
Relevant Market

WHOLESALE DISTRIBUTION OF ELECTRONIC COMPONENTS/PRODUCTS MARKET (Market for product distribution which includes the sale and installation of products and systems related to energy generation and transmission)

Subject of the Decision Clearance decision on the notified concentration, pursuant to articles 5-10 of L.3959/2011, as in force, regarding the acquisition by the company under the name “SIEMENS ENERGY AG” and distinctive title “SIEMENS ENERGY AG” through its indirect subsidiary under the name "SIEMENS GAS AND POWER HOLDING B.V.", part of the “SIEMENS ENERGY” group of companies, of sole control over the Greek Energy Branch of the company under the name "SIEMENS ELECTROTECHNICAL PROJECTS AND PRODUCTS SOCIETÉ ANONYME" through its partial division and acquisition by “SIEMENS ENERGY SINGLE-MEMBER PUBLIC LIMITED COMPANY”, a special purpose vehicle, wholly owned by “SIEMENS GAS AND POWER HOLDING B.V.”
Legal Framework

Article 6 L. 3959/2011

Operative part of the Decision

The competent Chamber of the Hellenic Competition Commission unanimously decided, by open vote, as follows:

approved, under article 8(3) of L. 3959/2011, the proposed acquisition, notified on 21.01.2022 (ref. no. 671) by "SIEMENS ENERGY AG", through its indirect subsidiary under the name "SIEMENS GAS AND POWER HOLDING B.V.", part of the “SIEMENS ENERGY” group, of sole control over the Greek Energy Branch of the company under the name "SIEMENS ELECTROTECHNICAL PROJECTS AND PRODUCTS SOCIETÉ ANONYME" through its partial division and acquisition by “SIEMENS ENERGY SINGLE-MEMBER PUBLIC LIMITED COMPANY”, a special purpose vehicle, wholly owned by “SIEMENS GAS AND POWER HOLDING B.V.”, as the proposed transaction, although it falls within the scope of Art. 6(1) of Greek Law 3959/2011, it does not raise any serious doubts as to its compatibility with the competition rules in the relevant markets concerned.

Company(ies) concerned
  1. SIEMENS GAS & POWER
  2. SIEMENS ENERGY SINGLE-MEMBER PUBLIC LIMITED COMPANY
  3. SIEMENS ENERGY AG AND SIEMENS ENERGY GROUP
Summary of Decision

The assessment of the concentration does not reveal any horizontally affected market as SIEMENS ENERGY AG and the Greek Energy Branch are not active in the same relevant markets. Therefore, no horizontal effects arise from the concentration. 

Regarding foreclosure of competitors’ access to customers ("customer foreclosure"), the considered concentration cannot bring about any change in terms of access of competitors of the SIEMENS ENERGY Group to customers. In conclusion, there is no possibility of customer foreclosure on the part of the new entity and any such possibility would be purely theoretical and pre-existing (it would not occur as a result of this transaction), i.e. it would not be causally linked to this transaction.

Regarding foreclosure of competitors’ access to inputs, ("input foreclosure"), the considered concentration cannot bring about any change in terms of access of competitors of the Greek Energy Branch to inputs. In conclusion, there is no possibility of input foreclosure of competitors on the part of the new entity and any such possibility would be purely theoretical and pre-existing (it would not occur as a result of this transaction), i.e. it would not be causally linked to this transaction.

Judicial Means -
Decisions by the Court of Appeal of Athens (Administrative Division) -
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