Thursday, 17 October 2019 10:37

Press Release - Approval of the proposed acquisition

Subject: Approval of the proposed, according to article 6 par. 1-3 of law 3959/2011, merger regarding the acquisition by Georgios Siggelidis of the 100% of the share capital of the company "OPEL HELLAS TRADE COMPANY SA", through which his son, Polychronis Siggelidis, indirectly acquires control of the acquired company.

The Hellenic Competition Committee in Plenary, on 16/10/2019, approved unanimously, with its no. 691/2019 decision, according to article 8 par. 3 of law 3959/2011, the merger notified on 05/07/2019, regarding the acquisition by Georgios Siggelidis of the 100% of the share capital of the company "OPEL HELLAS TRADE COMPANY SA", through which his son, Polychronis Siggelidis, indirectly acquires control of the acquired company.

In its decision, the Hellenic Competition Commission considered that the acquisition, which concerns the wider market of import, distribution and marketing of passenger and light commercial vehicles as well as their spare parts and accessories, while falling 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 free competition in the relevant markets concerned.

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