The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the purchase and acquisition of part of the business of Demstar Automotive Limited, by Galatariotis Motors Limited.
Galatariotis Motors Limited, is a subsidiary company duly registered under the laws of the Republic of Cyprus, wholly owned and controlled by Galatariotis Technical Limited, the holding company, which is also duly registered under the laws of the Republic of Cyprus, and which is part of a group of companies wholly owned and controlled by Galatariotis Brothers Ltd. Galatariotis Motors Limited is a newly established company and acts as the acquiring company for the purposes of this concentration.
The target in this concentration comprises of the acquisition of the seller’s assets concerning the business of dealership and distribution of vehicles (motorcycles and cars), as well as the existing stock of vehicles, spare parts, and the seller’s goodwill, associated only with the trade name “HONDA”.
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