February 7, 2023

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The acquisition of FCA Greece has been completed

The Competition Commission gave the green light to the acquisition of joint control by AutoHellas and Samelet of the company Fiat Chrysler Automobiles Greece.

At the meeting of the Competition Commission in plenary session on January 18, 2023, it was decided (No. 806/2023 EA Decision) unanimously to approve the reported merger, in accordance with Article 8, Paragraph 3 of Law 3959/2011.

Which relates to the acquisition of joint control by brand-name companies “AUTOHELLAS UNKNOWN TOURISM AND COMMERCIAL COMPANY” And SAMELET MOTORS LTDout of the total (100%) shares of the joint stock company bearing the name Greek company FCA for the trade of individual cars and spare parts. Given that the concentration in question, although it falls within the scope of Article 6, paragraph 1, of Law 3959/2011, as applicable, does not cause serious doubts about its compliance with the requirements of the competition process in individual markets. that interest her.

The above notification of concentration will result in a change of control from exclusive to general control of the company “FCA Greece is an individual car and spare parts trading company”Since companies autohelas And together They will get joint control over it.

the autohelas It is a company listed on the Athens Stock Exchange and is mainly active in short and long term vehicle rental, fleet management, import and wholesale distribution of branded cars. seatAnd Hyundai And KiaAs well as in the import and wholesale distribution of (original) spare parts. SAMELET is a limited liability company based in Israel and active in the automotive industry, importing and wholesale distributing cars under the FIAT, ALFA ROMEO, JEEP, SUBARU, RAM, IVECO, WEY, HONG-QI, MASERATI and FERRARI brands. FCA GREECE is a limited liability company established in 1962 and its main activity is import and wholesale distribution of branded cars FiatAnd Alfa RomeoAnd horoscopes And pocketAs well as the import and wholesale distribution of (original) spare parts.

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The focus generally relates to the vehicle sector in Greece (import, wholesale and retail distribution of new light commercial and passenger vehicles, wholesale import and distribution of spare parts, vehicle leasing, retail sale of spare parts, provision of repair and maintenance services).

The Greek lands are a related geographical area.

Concentration will bring about changes in the structure of one of the aforementioned related markets, as it will cause rearrangement of competitors’ position in the new passenger vehicle import and wholesale market. However, according to EA, this will not greatly affect the level of competition in the relevant market, since the market shares of merged parties are not particularly high, and there is sufficient competitive pressure from strong players in the same market, but also from used car importers/distributors. .

In this regard, the related vertical markets for the retail sale of automobiles, spare parts, maintenance and repair services, as well as vehicle leasing constitute markets affected by the concentration, but the latter does not lead to significant anti-competitive effects on them.

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