The Competition Commission approved the acquisition of Helector by Manetial, a 100% subsidiary of Motor Oil.
After taking into account the report of the competent Rapporteur, the Plenary Session of the Competition Commission ruled that the concentration is not capable of significantly restricting the functioning of competition in the waste sector.
As the Competition Commission noted, during the evaluation of the concentration, the market shares, the competitors, the level of concentration, the closeness of competition between the companies in the sector, the significant number of companies operating in the sector, the expected market growth and increase in demand, and the volatility of supply were taken into account, among others. Furthermore, the Competition Commission ruled that there are no horizontally or vertically affected markets in the electricity sector.
On June 10, 2024 Motor Oil decided to grant a special permission allowing its subsidiary Manetial Limited to proceed with the acquisition of 94.44% of the share capital of the company under the legal name Helector S.A. Specifically, the Company’s Board provided its approval to Manetial to enter into a Share Purchase Agreement for the acquisition of 185,793 registered shares issued by Helector, owned by the listed on the Athens Exchange company Ellaktor S.A. (Seller and SPA counterparty) for a total consideration amount of 114,731,111.11 euros.
