The Service of the Commission for the Protection of Competition announces that on the 24th of November 2004, received a notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law 22(I)/99.
With their notification, the companies Azare Enterprises Company Ltd and Libra Holidays Group Public Limited informed the Service of the Commission for the Protection of Competition that on the 12th of November 2004, they have signed an agreement by which Libra Holidays Group Public Limited will acquire 100% of the share capital of Azare Enterprises Company Ltd.
Azare Enterprises Company Ltd is a company based in Cyprus and is the owner of Helios Airways Limited who is active in the air transport sector with final destinations the UK, Ireland and Bulgaria.
Libra Holidays Group Public Limited is a public company and is active in the tourism sector, both in Cyprus and the UK. The company’s main activities concentrate in the organisation of trips, hotels and air transport.
During the preliminary investigation, the Service of the Commission for the Protection of Competition ascertains that the notified transaction could fall within the scope of the application of the Control of Concentration between Enterprises Law 22(I)/99.
According to Article 24 of the Control of Concentration between Enterprises Law 22(I)/99, in case of a concentration for which a full investigation is carried out (Article23), the Service provides, subsequent to the application of persons who have legal interest but do not participate in the concentration, an opportunity to submit their opinion in regards to the concentration at a way and time that the deadline set by Article 28 is not affected.
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