News
KG Law Firm Advises Generali on the Acquisition of AXA’s Greek Subsidiary Valued at EUR 177 Million
Kyriakides Georgopoulos Law Firm has been appointed as Generali’s counsel with respect to the acquisition of AXA’s Greek subsidiary.
KG’s competition team is advising on merger control issues and filing requirements including assessing jurisdictional authority for filing the notification (EU vs Greek), advising the client on the notification procedure and timeline before the Hellenic Competition Commission and review and commenting of the Share Purchase Agreement.
COVID-19 and the Market: The HCC Urges Market Players to Comply with Competition Rules
On 7 March 2020, the Hellenic Competition Commission (HCC) issued a Press Release highlighting that the Authority will protect healthy competition in the market, consumers’ interests and economic growth during the COVID-19 pandemic. Potential intent to increase or maintain companies’ profits or pass-on financial burden to consumers through illegal agreements or unilateral abusive practices jeopardizes the public interest and harms the consumers, without any countervailing benefit for society.
HCC RunDown 2019
The Hellenic Competition Commission’s (HCC’s) investigatory activity during 2019 was marked by the biggest Dawn Raid carried out to date by HCC’s officials in the banking sector. HCC officials carried out successive unannounced ex officio investigations at the premises of a number of banks and banking associations triggered by complaints filed by market players supporting that the four systemic banks under investigation are alleged to have been involved in anti-competitive horizontal agreements in the provision of banking and payment services.
Limitation Periods for the Hellenic Competition Commission: The Conseil D’ Etat has spoken with a New Ruling
In its much expected decision 582/2019, the Greek Supreme Administrative Court (Conseil d’ Etat), examined once more the issue of limitation periods for competition law violations and the notion of ‘reasonable time’ within which the Hellenic Competition Commission (‘HCC’) can bring cases against undertakings and delivered an ambiguous ruling which deviates from its previous decision on the matter.
COVID-19
Greece: HCC Launches an E-Commerce Sector Inquiry and a Public Consultation for Stakeholders
On 31 March 2020, the Hellenic Competition Commission published its decision of 11 March 2020 to initiate a sector inquiry into e-commerce, exercising its competency under Article 40 of Law 3959/2011.
New Price Controls Provisions and HCC Investigation regarding Price Increases and Shortages in Healthcare Materials
By Legislative Act – Decree of 20 March 2020 (GG A’ 68/20.03.2020), the Greek State provides further measures in order to address abusive price speculation and shortages, in response to the coronavirus spreading risk.
COVID-19 and the Market: The HCC Urges Market Players to Comply with Competition Rules
On 7 March 2020, the Hellenic Competition Commission (HCC) issued a Press Release highlighting that the Authority will protect healthy competition in the market, consumers’ interests and economic growth during the COVID-19 pandemic. Potential intent to increase or maintain companies’ profits or pass-on financial burden to consumers through illegal agreements or unilateral abusive practices jeopardizes the public interest and harms the consumers, without any countervailing benefit for society.