Wednesday, 08 November 2023

Press Release – Clearance of the notified concentration which concerns the acquisition of sole control over AKTOR SA by INTRAKAT SA

Subject: Clearance of the notified concentration which concerns the acquisition of sole control over “AKTOR SA” by “INTRAKAT SA” 

By its Decision no 830/2023, adopted on the 7th of November 2023, the Hellenic Competition Commission (HCC), in Planary, unanimously approved, pursuant to Article 8 (6) of Greek Law 3959/2011, the notified concentration which concerns the acquisition of exclusive control over " AKTOR SA" from "INTRAKAT SA". 

Listed on the Athens Stock Exchange, INTRAKAT SA is INTRAKAT Group’s parent company. The Group is active in the construction, IT, waste management, real estate development and renewable energy sectors. 

AKTOR is a member of the ELLAKTOR Group of companies. AKTOR and its subsidiaries’ main activities include infrastructure, building and industrial construction, aggregates production and facility management services. 

The HCC, considering the Rapporteur’s Proposal, the case file as well as the information presented and opinions expressed in the oral hearing of the case, concluded that the concentration, which is primarily horizontal in nature, is not expected to affect the competitive conditions in any of the relevant markets that pertain to the construction sector. In particular, the HCC took into consideration, among others, the parties’ and their competitors’ market shares, the concentration levels, the number and frequency of tenders, the closeness of competition between the parties, the analysis of all tenders between 2018 and 2022 as well as the parties and their competitors’ profiles and outlook. Moreover, the HCC concluded that the vertical and conglomerate effects of the concentration do not significantly impede effective competition in the other relevant markets that the parties operate in.

With its above decision, and following a full investigation of the concentration pursuant to article 8, paragraph 6 of Law 3959/2011, the HCC concluded that, although the concentration falls within the scope of application of no. 1 of article 6 of Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules.

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