Wednesday, 22 June 2016

Decision 627/2016

Decision on the proposed acquisition of PIRAEUS PORT AUTHORITY S.A. by COSCO (HONG KONG) GROUP LIMITED, granting the latter sole control over the former. 

Decision 627/2016
File (PDF) Decision 627/2016
Date of Publication of Decision June 22nd, 2016
Issue Number of Government Bulletin  
Relevant Market Port Services
Proceedings Merger
Legal Framework Phase II (Article 8 par. 4 and 8 of the Greek Competition Act 3959/2011)
Decision Conditional Clearance 
Summary of Decision

The Hellenic Competition Commission in plenary session, cleared, upon reaching an agreement on the terms and conditions to which reference is made below, the concentration concerning the acquisition of PIRAEUS PORT AUTHORITY S.A.  by COSCO (HONG KONG) GROUP LIMITED. The terms and conditions are as follows:

  • COSCO shall revoke the conditions of exclusivity and shall refrain in the future from the imposition of clauses of exclusivity in the market for the provision of cargo handling services and cargo storing.
  • COSCO shall maintain the same prices as are currently in place by PIRAEUS PORT AUTHORITY S.A. for the provision of cargo handling and cargo storing services which are handled at Pier 1 by PIRAEUS PORT AUTHORITY S.A. until 31/12/2017, with the option of rescinding potential price rises prior to the second semester of 2017.

The Commission, having considered the conditions of the market and its potential for improvement, as well as the commitments taken on by COSCO, concluded that the concentration does not give rise to any serious doubts as to its compatibility with merger control rules in the relevant market.

Judicial Means Final. Decision has not been appealed
Decisions by the Court of Appeal of Athens (Administrative Division) -
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