1) The market for primary supply of natural gas

2) The market for the retail supply of natural gas

3) The market for the construction of power plants

4) The market for electricity generation and supply

5) The market for the construction of (public and private projects)

Clearance decision on the notified concentration, pursuant to Articles 5 to 10 of Law 3959/2011, concerning the acquisition by the company under the name “PYRSOS HOLDING COMPANY S.A.” of sole control over the company under the name “PROMETHEUS GAS S.A.” 

Article 6 of Law 3959/2011.

Operative part of the Decision

The Hellenic Competition Commission, in Chamber sitting, unanimously approved, under article 8(3) of Law 3959/2011, the notified concentration under ref. no 255/11.01.2023 concerning the acquisition by “PYRSOS HOLDING COMPANY S.A.” of sole control over “PROMETHEUS GAS S.A.” as, although falling within the scope of article 6(1) of the Greek Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned.

1. “PYRSOS HOLDING COMPANY S.A.”
2. “PROMETHEUS GAS S.A.”

Regarding the substantive assessment of the concentration, in the light of the absence of any affected markets, according to the Decision, and considering, on the one hand, the limited activity of the parties to the concentration in the relevant markets concerned, so that no concern of creating or strengthening an individual dominant position is given rise, and on the other hand, the fact that it consists in a change in the quality of control over the Target Company, namely from joint to sole control, there is no need to further assess the effects of this concentration. In this respect, according to the evidence in the case file, the concentration is not expected to give rise to any conglomerate effects.

In conclusion, changes from common to sole control do not raise concerns, especially where there is no indication that the acquisition of sole control per se will lead to a significant change in competitive market conditions.