Wednesday, 15 May 2019

Decision 685/2019

Decision on approval of the notified concentration, according to article 6 - 10 of Law 3959/2011, concerning the merger by absorption of the real estate investment company under the name “Grivalia Properties AEEAP” from the joint-stock banking company under the name “Eurobank Ergasias Bank SA”.


Decision 685/2019
File (PDF) Decision 685/2019
Date of Publication of Decision May 15th, 2019
Issue Number of Government Bulletin 3432/B/14.08.2020
Relevant Market  The wider market for the provision of real estate services with the sub-markets of residential and commercial real estate. 
Proceedings Merger 
Legal Framework

Phase I (Article 8 (3) of the Greek Competition Act 3959/2011)

Decision  Clearance 
Acquiring Company “Eurobank Ergasias Bank SA”
Target Company  “Grivalia Properties AEEAP” 
Summary of Decision

The Competition Commission, convened in a Section formation, by unanimous decision approved the concentration regarding the merger by absorption of “Grivalia Properties AEEAP” by “Bank Eurobank Ergasias SA”, since in accordance with Art. 6(1) of Greek Law 3959/2011, the notified concentration will not result in changes in the structure of the relevant markets and will not substantially alter market shares in the wider real estate market and the residential and commercial real estate submarkets. Therefore, the notified concentration will not affect the level and conditions of competition in this sector.

Judicial Means Final. Decision has not been appealed. 
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