The Hellenic Competition Commission (HCC), in Chamber sitting, unanimously approved, by its Decision no. 858/2024 the acquisition of the company P.&C. DEVELOPMENT S.A. by the company TERNA S.A., active in the construction sector, pursuant to Article 6 of Law 3959/2011.

The acquisition concerns the relevant markets for major public and private construction projects, in which the parties to the transaction, namely TERNA S.A. and P.&C. DEVELOPMENT S.A., are active. Following the assessment of any horizontal effects of the transaction on these markets, the HCC concluded, inter alia, that the resulting increased new entity’s market share that is causally linked to the concentration under consideration, namely the increase brought about through the addition of the target company’s market share to the TERNA Group's market share, is insignificant. Furthermore, the vast majority of competitors surveyed in this regard consider that there are no barriers to entry in the construction industry and that, in general, the effects of the notified acquisition on the market under consideration will be negligible.

In the light of the above considerations, the Hellenic Competition Commission, in Chamber sitting, unanimously approved the notified concentration under Article 8 (3) of Law 3959/2011 as, although falling within the scope of Article 6 (1) of the Greek Competition Act, it does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned.