By its Decision no 868/2024, adopted on the 20th of December 2024, the Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Article 8 (3) of Greek Law 3959/2011, the notified concentration concerning the acquisition by "CORE INNOVATIONS", through its subsidiary "ELETAKO LIMITED" (the "vehicle company"), of the sole control of the holding company "ZENROW LIMITED" and its subsidiary "TWENTY FOUR SHOPEN TRADE COMPANY, RESTAURANT FACILITY MANAGEMENT AND FOOD SERVICES COMPANY".

CORE INNOVATIONS, which is a subsidiary of MOTOR OIL SA, is active in the sector of e-commerce services, B2B services, distribution and logistics for the products it markets and finally in the retail sector of grocery products, through the convenience stores it operates.

TWENTY 4 SHOPEN, which is essentially the Target Company in this concentration, is active in the retail sale of grocery products through its 24-hour convenience stores.

The concentration’s analysis shows that under any definition of the relevant market of the small retail market, the parties’ activities either do not overlap horizontally or, if mini-markets operating within the petrol station sector are included, at a local level, i.e. within a radius of 300 metres, only in seven (7) areas in the Region of Attica (not in the rest of Greece) the horizontal overlap of the parties leads to negligible/de-minimis combined market shares (the increment of the new entity's share will be negligible) and therefore no material change in competitive conditions is expected as a consequence of the concentration under assessment.

Therefore, the HCC, in Chamber, unanimously approves the notified concentration pursuant to Article 8 para. 3 of Law 3959/2011, since the concentration in question, although falling within the scope of Article 6(1) of Law 3959/2011, does not raise serious concerns as to its compatibility with the requirements for the functioning of competition in the relevant markets it concerns.