July 07^th, 2011

Plastic products

Merger

Phase Ι (Article 8 par. 3 of L. 3959/2011)

Clearance 

1. N.G.P. HOLDING S.A.

2. FEMION LIMITED

N.G.P. PLASTIC ABEE

The above mentioned concentration concerns the acquisition of joint control of the companies “N.G.P. HOLDING S.A.” and “FEMION LIMITED” over the company under the name “N.G.P. PLASTIC ABEE”. In particular, this transaction concerns the change of the existing sole control of “NGP HOLDING S.A.” into a joint control of the above companies over “NGP PLASTIC ABEE”.

The relevant product market concerning this transaction is that of plastic packaging with a capacity ≤2 lt and the relevant geographical market is the Greek Territory.

After evaluating the case file, it was concluded that there were no affected markets in the domestic market, as the joint market shares of the participants in the concentration did not exceed 15% in the relevant market.

The Competition Commission ruled unanimously and approved the concentration, after the statements and clarifications submitted with the notification, which the parties committed to comply with as part of the notification (a three-year time limit for the non-compete and confidentiality clauses in the event of withdrawal of one or more of the existing shareholders, a geographical restriction on the terms of the non-compete and confidentiality clauses during the agreement in question, as well as in the event of the withdrawal of one or more of the existing shareholders), with the exception of the extension of the geographical scope of the non-compete clause to areas, where NGP PLASTIC has not yet invested, as defined in the operative part of the Decision.

By the present Decision (no.521/VI/2011),the acquiring   parties had applied for derogation, according to article 9 par. 3 of law 3959/2011. The competent Chamber of the HCC ruled unanimously that the examination of the application was unnecessary as irrelevant, after the decision of clearance was issued.