By its Decision No. 886/2025, adopted on the 24th of July 2025, the Hellenic Competition Commission (HCC), in Chamber sitting, unanimously approved, within the meaning of Article 5 (2-b) and Article 10 of Law 3959/2011, the concentration concerning the acquisition by a) the Alternative Investment Fund "DIORAMA INVESTMENTS II RAIF, S.C.A." (DIORAMMA II)” and b) “VAPAD LTD” (“VAPAD”) of joint control over the companies “GLOBALSAT MOBILE PHONE AND OFFICE ORGANIZATION DEVICES TRADING SINGLE-MEMBER SOCIETE ANONYME” (“GLOBALSAT”), “GLOBALSAT CYPRUS LTD” (“GLOBALSAT CYPRUS”) and “GLOBALSAT ENERGIS SINGLE-MEMBER SOCIETE ANONYME” (GLOBALSAT ENERGIS) which, prior to the implementation of the transaction, were solely controlled by VAPAD.
In this concentration, the activities of the parties in Greece are heterogeneous and there is no horizontal overlap or vertical integration between them. The main activity of the target companies GLOBALSAT is the distribution of electrical and electronic devices. The undertakings controlled by DIORAMA II, DECA, are mainly active in the individual markets for agricultural product processing, food products, brewery products, paper packaging, cosmetics/parapharmaceutical products and pharmacy consulting services, as well as in the cybersecurity sector. In this regard, the information in the case file does not indicate any conglomerate effects.
In view of the above, the Hellenic Competition Commission, in Chamber sitting, unanimously approved the concentration notified pursuant to Article 8(3) of Law 3959/2011 concerning the acquisition of joint control by (a) DIORAMA II and b) “VAPAD” over the companies “GLOBALSAT”, “GLOBALSAT CYPRUS”, and “GLOBALSAT ENERGIS” as this concentration, although falling within the scope of paragraph 1 of Article 6 of Law 3959/2011, does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned thereby.