By its Decision no 842/2024 adopted on the 1st of March 2024, the Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Article 8 (3) of Greek Law 3959/2011, the notified concentration concerning the acquisition by Copelouzos Group’s FOODCORP INVESTMENTS SA and GRIGORIS SA of joint control over 1904 SA within the meaning of Article 5 (2b) of Greek Law 3959/2011.
1904 SA’s main business activity is the reconstruction and 20-year operation of the "AIGLI ZAPPEIOU" building complex, which will function as a multi-purpose site offering catering, leisure, cinema and event organization services. The concentration leads to a qualitative change of control, as 1904 SA is currently controlled exclusively by GRIGORIS ABEE.
The HCC, by its decision, concluded that the concentration, is not expected to affect the competitive conditions in any of the relevant markets concerned. Therefore, whereas the concentration falls within the scope of article 6(1) of Greek Law 3959/2011, the HCC, by its decision, concluded that it does not raise serious concerns as to its compatibility with competition rules in the relevant markets it concerns.