The Hellenic Competition Commission (HCC) in Section, on May 1, 2024, by its decision 847/2024, unanimously approved the notified concentrations, concerning a) the creation of a joint venture (Joint Venture), through the acquisition of joint control, by the companies HELLENIC WINERIES S.A. and TOURISM ENTERPRISES OF MESSINIA S.A. and b) the change of control from exclusive to joint control over the company NAVARINO VINEYARDS S.A AGRICULTURAL WINEMAKING COMMERCIAL AND INDUSTRIAL SINGLE MEMBER S.A (NAVARINO VINEYARDS) by the companies PREMIA PROPERTIES and TOURISM ENTERPRISES OF MESSINIA S.A., as a single concentration, which, although falling within the scope of article 6 of Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the markets it concerns. 

HELLENIC WINERIES S.A is a holding and investment company, active through its subsidiaries, inter alia, in the markets of winemaking and non-alcoholic beverages. TOURISM ENTERPRISES OF MESSINIA S.A is active in tourism. PREMIA PROPERTIES S.A is a real estate investment and management company. NAVARINO VINEYARDS is currently active in the production of wine grapes and the marketing of bottled wines under its own brands. The Joint Venture will be active in the production of wine grapes, the production and marketing of bottled wines and the (future) operation of a winery, including a catering facility.

The HCC, in its assessment, examined the interrelated character of the transactions, which had been notified as two distinctive transactions, the nature of the acquired control and the full functionality of the Joint Venture. The HCC further assessed the relevant markets in which the parties are active (including the market for the cultivation/production of grapes for winemaking and the market for the distribution and marketing of bottled wine) and concluded that the conditions of competition would not change, as a result of the transaction under consideration, neither horizontally nor vertically, and that the concentration under consideration is not expected to result in changes in the structure of the relevant markets and therefore would not affect the level of competition in those markets.