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Tuesday, 21 July 2020 13:34

Press release: Clearance of SIDMA/ BITROS

Subject: The Hellenic Competition Commission clears the concentration between “SIDMA S.A.” (“SIDMA”) acquiring sole control over part of “BITROS Steel S.A.” (“BITROS”) through the acquisition of assets.

On 21/07/2020, by its unanimous Decision No. 716/2020, the Chamber of the Hellenic Competition Commission approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the proposed transaction notified on 08/05/2020, which concerns the acquisition by SIDMA of sole control over part of BITROS through the acquisition of assets.

Pursuant to the above decision, the Hellenic Competition Commission found that the proposed concentration, which concerns the markets for distribution of flat steel and long steel products, while falling within the scope of Art. 6(1) of Greek Law 3959/2011, does not raise any serious doubts as to its compatibility with the competition rules in the relevant markets involved.