The Competition Commission expresses concerns about the acquisition of Elektor by a subsidiary of Motor Oil, and is proceeding with a full investigation of the concentration.

As stated in the announcement: “concerns are raised regarding the results of the notified act in the construction of (non-hazardous) waste management units, and in particular in solid waste, and secondarily in the management of non-hazardous waste, in particular in solid waste”.

The issuance of the decision is expected within ninety days from the date of initiation of the full investigation process. The initiation of the full investigation process does not prejudge the final outcome of the assessment.

In detail, the Competition Commission states in its announcement:

“On October 23, 2024, the full investigation procedure was initiated, in accordance with the provisions of article 8 par. 4 of Law 3959/2011, of the concentration notified on 02.08.2024, pursuant to Article 6 of Law 3959/2011, which concerns in the acquisition by the company with the name “MANETIAL LIMITED”, a subsidiary of the company “MOTOR OIL (HELLAS) CORINTH REFINERY SA”, of exclusive control over the company “ELEKTOR ANONYMI ETERIA ENERGY AND ENVIRONMENTAL APPLICATIONS” in accordance with art. 5 par. 2b of Law 3959/2011, as applicable.

Based on the preliminary assessment of the concentration, the Competition Commission (CA) considers that serious doubts arise as to its compatibility with the requirements of the operation of competition in the individual markets it concerns. In particular, based on the available data, concerns are raised regarding the results of the notified operation in the construction of (non-hazardous) waste management units, especially in solid waste, and secondarily in the management of non-hazardous waste, in particular in solid waste. In this context, the evidence relating to the precise delimitation and structure of the relevant markets and the precise determination of market shares and the functioning of competition, taking into account the high degree of concentration, as well as any other relevant evidence and factors as provided for in article 7 par. 2 of Law 3959/2011.

During the full investigation process, the EA will consider whether its doubts as to the compatibility of the concentration with the requirements of the operation of competition in the individual markets concerned are confirmed.

In accordance with what is defined in article 8 par. 4 of N. 3959/2011, from the notification, to the participating companies, of the start of the full investigation process, the participating companies can jointly make modifications to the concentration or propose the undertaking of commitments , so as not to cause serious doubts as to its compatibility with the requirements for the operation of competition in the individual markets it concerns, and to notify them to the Competition Commission.

The EA’s decision on the concentration will be issued within ninety (90) days from the date of initiation of the full investigation process.

The initiation of the full investigation process does not prejudge the final outcome of the assessment.”