By its Decision no 874/2025, adopted on the 20th of January 2025, the Hellenic Competition Commission (HCC), in Plenary, unanimously approved, pursuant to Article 8 (6) of Greek Law 3959/2011, the notified concentration which concerns the acquisition of exclusive control over " HLEKTOR SA" from "MANETIAL LTD".
MANETIAL LΤD is a cypriot holding company, which is a 100% subsidiary of MOTOR OIL HELLAS SA (the parent company of the MOH Group of companies) and the sole shareholder of the company named THALES ENVIRONMENTAL SERVICES SA. THALES is primarily active in the construction and management of plants treating non-hazardous waste and -secondarily and to a lesser degree- in the construction of electric power plants and the production and supply of electricity from waste (through the collection and exploitation of biogas from landfills). Furthermore, the MOH Group of companies is active, among others, in the production, trade and supply of electricity (wholesale and retail), while in the last few years it aims at further developing its activities in the context of the circular economy.
HLEKTOR SA and its subsidiaries are active in the construction of waste treatment plants and/or of facilities where waste is treated/recycled, in the provision of services that are related to waste treatment, including the provision of services related to the operation of plants treating waste and of facilities where waste is treated/recycled, and in the production of electricity from renewable energy sources (RES).
The concentration concerns the waste sector and, more in particular, the construction of plants treating non hazardous waste and the treatment of non hazardous waste and wastewater. Considering the Rapporteur’s Proposal, the case file as well as the information presented and opinions expressed in the oral hearing of the case, the HCC concluded that the concentration is not expected to affect the competitive conditions in any of the relevant markets that pertain to the waste sector. In particular, while assessing the concentration the HCC took into consideration, among others, the parties’ and their competitors’ market shares, the concentration levels, the closeness of competition between the parties, the significant number of competitors, the expected growth of the market, the expected growth of demand and offer volatility. Moreover, the HCC concluded that there are no markets affected horizontally or vertically in the electricty sector.
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.