Decision 533/2012 | |
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File (PDF) | Decision 533/2012 |
Date of Issuance of Decision |
January 20th, 2012 |
Government Gazette Issue No | |
Relevant Market |
Insurance and Reinsurance Services |
Subject of the Decision |
Merger |
Legal Framework |
Article 4b and 4e of L. 703/1977 |
Operative part of the Decision |
Finding of infringement. Imposition of a fine. |
Acquiring company(ies) |
ASPIS HOLDINGS PUBLIC COMPANY LTD |
Target company |
PROTON INSURANCE S.A. |
Summary of Decision |
With the completion of the above merger, the entire GROUP of EUROBANK companies were to be owned 100% by ALPHA BANK. EUROBANK would cease to exist and its shareholders, common and privileged, would automatically become shareholders of the SINGLE BANK, through the acquisition of new (common or preference) shares of the latter, in exchange for the share capital and property of EUROBANK contributed to the SINGLE BANK. The relevant markets, in which both parties are active, are: a) banking products and services (financial sector), b) mutual funds, c) insurance, d) leasing, e) factoring services, f) financial market services, g) asset management and h) real estate activities. The Plenary Session of the Hellenic Competition Commission, voted unanimously and approved the notified concentration, subject to the following terms and conditions, in respect of card accepting and factoring markets:
It is mentioned that the notified merger was abandoned by the parties. |
Judicial Means |
Final. No appeal. |
Decisions by the Court of Appeal of Athens (Administrative Division) |
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