Competition Committee: ‘Green light’ for the 20-year lease of the Zappeion Gla

The acquisition of joint control by FOODCORP INVESTMENTS S.A., company of the Kopelousos Group, and GREGORIS S.A. on the company “1904 S.A.”, which has undertaken the reconstruction and reopening of AEGLE. According to the Communication of the Competition Committee, the main activity of the “1904 S.A.” is the reconstruction, exploitation and operation for twenty years of the building complex of “AEGLIS ZAPPEIOS”, in order to operate as a multi-purpose restaurant, recreation, cinema and event organization. The concentration leads to a qualitative change in control over ‘1904 SA’, as it is currently controlled solely by GREGORIS SA. The Competition Committee considered that there were no markets affected by the concentration and therefore no anti-competitive horizontal, vertical or retractive effects resulting from its implementation. Therefore, although it falls within the scope of paragraph 1 of Article 6 of Law 3959/2011, the present concentration does not raise serious doubts as to its compatibility with the competition requirements in the relevant markets concerned. Source: RES – ICM