Competition watchdog concerned over Intrakat’s acquisition of Aktor

A new management is expected to take over at the Intrakat construction group from July 15, after the conclusion of the agreement between owner Sokratis Kokkalis and shipowners Dimitris Bakos and John Kaimenakis, as well as the imminent sale of additional stakes to two more shipowners: Significant packages of Intrakat shares will got to Kostas Angelou, head of the Benelux Overseas company, which is active in the transport of liquefied petroleum gas via LPG ships, and Elias Gotsis, head of Eurotankers, which controls a fleet of 14 tankers. The transaction of the stakes totaling 61% is understood to come to 140 million euros.

The Hellenic Competition Commission has expressed its concern over the acquisition of construction company Aktor by Intrakat, saying that it would investigate the deal and announce its decision roughly in three months.

In a statement, the competition authority said the investigation of Intrakat's full acquisition of Aktor, the construction branch of the Ellaktor Group, began on August 31, 2023.

The two companies are active in the construction of public and private projects.

"The announced concentration raises serious doubts as to its compatibility with the operational competition requirements in specific markets," the authority said, as it would "significantly increase the degree of concentration of wider markets in public and private construction," thus "abolishing a significant competition factor."

"The concentration may have vertical or conglomerate...

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