1. The market for electricity generation and wholesale supply.

2. The market for mining, processing and wholesale supply of natural stones.

Clearance of the concentration notified under ref. no. 490/17.01.2023, pursuant to Article 6 (1-3) of Law 3959/2011, concerning the acquisition by the newly established company under the name “DOLIT INVESTMENTS SINGLE MEMBER S.A.”, an indirect wholly owned subsidiary of “ECM Partners Inc.”, of sole control over the companies under the names “PAVLIDIS MARBLE GRANITE S.A.” and “ENERFARM 2 RENEWABLES S.A.”.

Article 6 of Law 3959/2011.

Operative part of the Decision

The Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the notified concentration under ref. no 490/17.01.2023 concerning the acquisition by the newly established company under the name “DOLIT INVESTMENTS SINGLE MEMBER S.A.”, an indirect wholly owned subsidiary of “ECM Partners Inc.”, of sole control over the companies under the names “PAVLIDIS MARBLE GRANITE S.A.” and “ENERFARM 2 RENEWABLES S.A.”, as concentration, although falling within the scope of article 6(1) of the Greek Law 3959/2011, does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned.

1. “DOLIT INVESTMENTS SINGLE MEMBER S.A.”

2. “ECM Partners Inc.”

3. “PAVLIDIS MARBLE GRANITE S.A.”

4. “ENERFARM 2 RENEWABLES S.A.”

The above concentration is effected through the acquisition of sole control by DOLIT INVESTMENTS SINGLE MEMBER S.A. of all (100%) the shares of the target companies PAVLIDIS MARBLE GRANITE S.A. and ENERFARM 2. The nature of the acquired control through the merger consists in the acquisition of sole control by DOLIT and, indirectly, by ECM, over the companies PAVLIDIS and ENERFARM 2. In this merger there are not any horizontally or vertically affected markets, as there are no horizontal overlaps or vertical relationships between the acquirer and the target companies. In this regard, and according to contents of the case file, the proposed concentration is not expected to create any anti-competitive conglomerate effects.