Hellenic Competition Commission

Thursday, 11 June 2020 10:41

Press release: Decision of the HCC on the modification of the remedies adopted in the context of the MASOUTIS/ PROMITHEFTIKI decision

Subject: Decision of the Hellenic Competition Commission on the request of the company "DIAMANTIS MASOUTIS SA - SUPER MARKET" for modification of the remedies undertaken in the context of Decision no. 665/2018 on the approval of the acquisition of sole control over the company PROMITHEFTIKI SA.

On 9/6/2020, by its unanimous Decision No. 713/2020, the Plenary of the Hellenic Competition Commission (“HCC”) decided to modify the commitments adopted in the context of Decision no. 665/2018 on the approval of the acquisition of sole control over the company PROMITHEFTIKI SA, following a request submitted by the company “DIAMANTIS MASOUTIS SA - SUPER MARKET” (“MASOUTIS”), and taking into account the exceptional circumstances of the present case.

With the above Decision, the HCC decided to substitute the commitment regarding the divestiture by MASOUTIS of a super market store located in the ​​area of "Ag. Spyridon” in the main town of the island of Andros, with a commitment to divest a company store located in the nearby “Anemomyloi” area, also in the main town of Andros. MASOUTIS is required to implement the new divestiture commitment within six months from the appointment of a Divestiture Trustee, who will be responsible for the successful implementation of the new commitment.

In reaching the above Decision, the HCC took into account the exceptional circumstances of the case, and in particular the fact that MASOUTIS was unable to implement the initially undertaken divestiture commitment due to lack of interest from potential purchasers, as well as the current unfavorable economic situation facing the country. Upon this basis, and following reasoned requests from MASOUTIS, the HCC considered that the above modification of the initial commitment can be viewed as an appropriate and suitable solution for maintaining conditions of effective competition in the local market of the main town of the island Andros. The Decision no. 665/2018 of the HCC shall continue to apply as to the remainder.

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