By its Decision no 810/2023, adopted on 22 February 2022, the Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Articles 5 to 10 of Law 3959/2011, the notified concentration concerning the acquisition by the newly created company under the name “DOLIT INVESTMENTS SINGLE MEMBER S.A.”, an indirect wholly owned subsidiary of “ECM Partners Inc.”, of sole control over the companies under the names “PAVLIDIS MARBLE GRANITE S.A.” and “ENERFARM 2 RENEWABLES S.A.”, within the meaning of article 5(2)(b) of Law 3959/2011.
The concentration does not have a community dimension within the meaning of article 1(2) of Regulation No 139/2004 "on the control of concentrations between undertakings", as the turnover of one of the two merged undertakings does not exceed €250 million and, therefore, the criteria of the said paragraph are not cumulatively met, while at the same time the turnover does not exceed 100 million and, therefore, the criteria of paragraph 3 of the above article are not cumulatively met either.
The concentration concerns a) the market for electricity generation and wholesale supply in the Greek territory, in which both target companies (PAVLIDIS MARBLE GRANITE S.A. and ENERFARM 2 RENEWABLES S.A.) are active and b) the market for mining, processing and wholesale supply of natural stones, in which only PAVLIDIS MARBLE GRANITE S.A. is active. The acquirer (DOLIT INVESTMENTS SINGLE MEMBER S.A.) is not active in any of these markets.
In this concentration, there are no affected markets at a horizontal and/or vertical level as the criteria relating to a) the activity of at least two (2) of the participating companies and the 15% aggregate market share threshold (as regards horizontal markets) or b) the activity of at least one of the participating companies and the 25% aggregate market share threshold (as regards vertical markets) are not cumulatively met in any of the relevant markets concerned.
The Hellenic Competition Commission, in Chamber, unanimously approved, under article 8(3) of Law 3959/2011, the notified concentration concerning the acquisition by the newly created company under the name “DOLIT INVESTMENTS SINGLE MEMBER S.A.”, an indirect wholly owned subsidiary of “ECM Partners Inc.”, of sole control over the companies under the names “PAVLIDIS MARBLE GRANITE S.A.” and “ENERFARM 2 RENEWABLES S.A.” as, although falling within the scope of article 6(1) of the Greek Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned.
