GREECE Law and Practice Contributed by: Anna Manda and Maria Kallidopoulou, Karatzas & Partners
long as the notifying parties demonstrate to the HCC their firm intention to enter into a conclu - sive agreement or, in the event of a public bid, as long as the parties have publicly announced their intention to make such bid. In case of mergers, the HCC will review the noti - fication at the pre-binding stage, as soon as the board of directors of the two entities have initi - ated the merger procedures, but will only issue a decision once it has received the resolutions of the general shareholders’ meetings approving the merger, since the latter are considered as binding acts for the purposes of the notification. 3.3 Filing Fees The notification form must be accompanied by the proof of payment of a filing fee of EUR1,100. Absent the proof of payment of the filing fee, the notification will be rejected on the grounds of inadmissibility. An additional fee of EUR3,000 shall be submitted to the HCC in the event that the HCC initiates an in-depth review (Phase II) of the concentration. 3.4 Parties Responsible for Filing Where the concentration arises from a merger agreement, all parties involved are responsible for the filing. In case of an acquisition of sole control, the par - ty acquiring control is responsible for the filing, whereas in case of an acquisition of joint con - trol, the notification must be made by all parties acquiring control. 3.5 Information Included in a Filing The information required for a notification (long or short form) under an HCC filing is similar to what is required for the submission of the Form CO before the European Commission (EC). In general, the information typically required to
complete a filing includes, inter alia, the follow - ing: • description of the transaction; • information about the participating parties and their activities; • the ownership and control structure of the participating parties; • definition of the relevant product and geo - graphical markets and any affected markets; • turnover and market share information on the affected markets; • information on the structure of supply and demand in the affected markets; and • efficiencies expected to result from the trans - action. The filing shall be accompanied by the following documents: • a copy of the binding agreement or of the tender document in case of a public bid; • copies of the most recent annual reports/ financial statements of the undertakings concerned; • copies of all relevant market studies provid - ing information of the structure of the affected markets (such as market shares, competition conditions, existing and potential competi - tors, structure of supply, etc); • a copy of the notification announcement as published in the newspaper; • a power of attorney for representation by a legal counsel (PoA), which should be dully notarised (and apostilled where necessary); • presentations made from/to the Board of Directors or presented to the Board of Direc - tors or the general assembly, which include competitive assessments; and • proof of payment of the filing fee.
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