On the 20th May 2005, the Service of the Commission for the Protection of Competition (CPC) received a notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law 22(I)/99, as amended.
With the notification, parties involved notified the signing of the agreement dated 19 May 2005 between Carrefour Marinopoulos S.A. and Mr. Andreas Andreou and Mr. Vassiliki Andreou, the majority shareholders of the company Chris Cash & Carry Public Ltd, on the basis of which the company Guedo Holdings Ltd (SPV), solely subsidiary of Carrefour Marinopoulos S.A., by means of a public offer, will acquire the 100% or the minimum 75% of the shares of Chris Cash & Carry Public Ltd. With the acceptance of the public offer by Mr. Andreas Andreou and Mrs. Vassiliki Andreou and the purchase of the shares by SPV, Mr. Andreas Andreou and Mrs. Vassiliki Andreou, will acquire the 49,9% of the shares of SPV, and the rest 50,1% will be hold by Carrefour Marinopoulos S.A.
The concentrations concerns the sector of handling and operation of supermarkets trade, retail sales and trade of all kind of consumer products, like food products, cleaning products, clothing and footwear.
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.