The acquisition of Twenty Four Shopen by Motor Oil was approved by the Competition Commission.

As announced, today, December 20, in a meeting of its department, the Competition Commission took a decision by which it unanimously approved the notified concentration, which concerns the acquisition by “CORE INNOVATIONS MONOPROSOPI ANONYMI ETERIA”, through its subsidiary company ” ELETAKO LIMITED” (“company-vehicle”), of the exclusive control of the holding company “ZENROW LIMITED” and subsidiary of the company “TWENTY FOUR SHOPEN COMMERCIAL COMPANY ANONYMOUS COMPANY OPERATING RESTAURANT PLACES PROVIDING FOOD SERVICES”.

CORE INNOVATIONS, which is a subsidiary of MOTOR OIL (GREECE) CORINTH REFINERY SA, is active in the field of e-commerce servicesof B2B services, at distribution and logistics for the products it trades and finally in the product retail sector grocery storethrough the convenience stores it operates.

TWENTY 4 SHOPEN, which essentially constitutes the company – Target in this concentration, is active in the field of retail sales of grocery products through mini market stores that operate on a 24-hour basis.

The analysis of the concentration shows that under any definition of the relevant market of the small retail market, the activity of the parties either does not overlap horizontally or, if the mini-markets operating within the premises of petrol stations are included, at a local level, i.e. in radii of 300 meters only in seven areas in the region of Attica (and not in the rest of Greece) the horizontal overlap of the parties leads to negligible / de-minimis combined market shares (the increase in the share of the new entity will be negligible) and therefore, no significant change in competitive conditions is expected as a result of the concentration under evaluation.

“Therefore, the announcement concludes, the Competition Commission, in a section, unanimously approves the article 8 par. 3 of N. 3959/2011 notified merger, given that the merger in question, despite falling within the scope of paragraph 1 of article 6 of Law 3959/2011, does not cause serious doubts as to its compatibility with the requirements of the operation of competition in the individual markets to which it concerns”.