The competition committee approved on Friday the acquisition of Shell Hellas from Motor Oil. However, the committee said that Shell and Avin will have to reduce their market share to 55% in two Greek counties (Ioannina and Kefalonia), which was more or less expected.
In other news, Motor Oil’s EGM approved a €99.7m capital increase that will be made through the capitalization of retained earnings and untaxed reserves. Note that Motor Oil’s shares’ par value will be adjusted to €1.20 from €0.30 p/s.