Thursday, 30 September 2021

Decision 747/2021

Decision following prior notification of concentration, pursuant to articles 5-10 of L.3959/2011, regarding the acquisition of sole control by the company under the name “GEK TERNA S.A.” over the companies under the names: “HERON ENERGY S.A.” and “HERON THERMOELECTRIC S.A.” 

Decision 747/2021
File (PDF) Decision 747/2021
Date of Issuance of Decision September 30th, 2021
Issue Number of Government Gazette 
Relevant Market Production and supply of wholesale electricity, construction of production units of electricity, retail supply of electricity, wholesale and retail supply of natural gas.
Subject of the Decision  Merger
Legal Framework

 Phase I (Article 8 par. 3 of L. 3959/2011) 

Operative part of the Decision Clearance
Acquiring Company(ies) Gek Terna  S.A.
Target company(ies)

Heron Energy S.A.

Heron Thermoelectric S.A.

Summary of Decision

The Plenary session of the Hellenic Competition Commission, on 30/09/2021, unanimously approved, by its decision under no. 747/2021, pursuant to article 8 par.3 of law 3959/2011, the notified concentration dated from 06/08/2021, regarding the acquisition of sole control by the company under the name “GEK TERNA S.A.” over the companies under the name: “HERON ENERGY S.A.” and “HERON THERMOELECTRIC S.A.”

According to the above decision, the HCC approved said concentration, concerning the production and supply market of wholesale electricity, including the imports, the market for the construction of electricity generation units production units of electricity market, the supply market of retail electricity market, the supply market of wholesale and retail natural gas market, despite the fact that it falls within the scope of the article 6 (par.1) of  L.3959/2011, as in force, it does not raise any serious doubts as to its compatibility with the competition rules in the relevant markets concerned.

Judicial Proceedings -
Decisions by the Administrative Court of Court of Appeal of Athens -
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