On the 23rd of October 2024, the Hellenic Competition Commission initiated the procedure provided for in Article 8 (4) of Law 3959/2011 to assess the concentration notified on 02.08.2024, according to Article 6 of Law 3959/2011, concerning the acquisition by “MANETIAL LIMITED”, a subsidiary of the company under the name “MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.”, of sole control over “HELECTOR ENERGY & ENVIRONMENTAL APPLICATIONS S.A.”, pursuant to Article 5 (2b) of Law 3959/2011, as in force.
On the basis of the above preliminary assessment, the Hellenic Competition Commission (HCC) considers that the concentration examined raises serious concerns as to its compatibility with competition rules in the individual markets concerned. In particular, in the light of the information contained in the case file, the concerns raised primarily pertain to the effects of the proposed transaction on the market for the construction of (non-hazardous) waste management facilities, especially for solid waste, and, secondarily, on the market for non-hazardous waste management, especially for solid waste. In this context, the information relating to the exact definition and structure of the relevant markets and the precise determination of market shares, in terms of competition, must be evaluated and assessed also taking into account the high degree of market concentration as well as any other relevant facts and factors as set out in Article 7 (2) of Law 3959/2011.
The HCC’s in-depth assessment of the concentration aims at determining whether the concerns raised as to the compatibility of the above concentration with competition rules in the individual markets concerned are confirmed.
In accordance with the provisions of Article 8 (4) of Law 3959/2011, following notification of initiation of an in-depth assessment procedure, the parties to the concentration may jointly proceed to modifications to the concentration or propose to undertake commitments to address any concerns as to its compatibility with competition rules in the individual markets concerned, and to submit any such commitments to the Hellenic Competition Commission.
The HCC's decision on the concentration shall be issued within ninety (90) days from the date of initiation of the in-depth assessment procedure.
The initiation of the above procedure does not prejudice the final outcome of the assessment.
