Tuesday, 03 March 2020 11:51

Press Release - Clearance of a proposed acquisition

Subject: Clearance of the proposed acquisition, which was notified pursuant to Art. 6(1)-(3) of Greek Law 3959/2011, by the cooperative "Crete Consumer’s Supply Cooperative Limited Liability Partnership" of sole control over the companies "Galaxia Shops Dimitra Markets Limited Liability Company " and "Markato super markets Société Anonyme ".

On 18.02.2020, by its unanimous Decision No. 701/2020, the Hellenic Competition Commission approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the proposed acquisition by the cooperative "Crete Consumer’s Supply Cooperative Limited Liability Partnership" regarding the acquisition of the 75% of the shares of the companies "Galaxia Shops Dimitra Markets Limited Liability Company" and "Markato super markets Société Anonyme" that operate on the island of Corfu.

Pursuant to the above decision, the Hellenic Competition Commission found that the proposed concentration in the retail and wholesale distribution of supermarket items at the distribution level (i.e. the retail sale of everyday consumer goods through supermarkets, mini markets and discount stores), which geographically affects the prefectures of Chania, Lassithi, Heraklion and Rethymnon in Crete, as well as the islands of Paros, Naxos, Tinos, Syros, Milos, Santorini, Kalymnos, Chios and Corfu, while falling within the scope of Art. 6 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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