The Hellenic Competition Commission has raised concerns about the acquisition of Ellaktor by Motor Oil’s subsidiary, MANETIAL LIMITED, initiating a full investigation into the transaction. According to the announcement on October 23, 2024, this review process, governed by Article 8, paragraph 4 of Law 3959/2011, follows the notification of the acquisition on August 2, 2024, as required by Article 6 of the same law. This acquisition grants MANETIAL LIMITED exclusive control over the energy and environmental applications company, Ellaktor S.A.

The preliminary evaluation of the acquisition suggests that the transaction may not align with competition requirements in specific markets, sparking serious concerns. The Commission’s primary focus is on potential impacts in the sectors of non-hazardous waste management and solid waste processing. It intends to assess market structure, concentration levels, and the competitive landscape within these markets, following Article 7, paragraph 2 of Law 3959/2011.

During this comprehensive investigation, the Commission will determine whether the acquisition complies with competitive standards in the affected markets, with a final decision expected within 90 days.