Thursday, 16 May 2019 15:25

Press Release: Approval of the notified concentration

Subject: Approval of the notified concentration, according to article 6 (1) 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”.

The Competition Commission, convened in a Section formation, by unanimous decision [No. 685/2019 dated 15/05/2019], approved, according to article 8 (3) of Law 3959/2011, the concentration announced on 22.03.2019 regarding the merger by absorption of “Grivalia Properties AEEAP” by “Bank Eurobank Ergasias SA”.

In its decision, the Section of the Commission considered that the above concentration, which refers primarily to the wider market of real estate services, 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.

 

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