Ballas, Pelecanos & Associates has advised GEK Terna SA and the Motor Oil Hellas Group on obtaining the concentration approval from the Hellenic Competition Commission for their EUR 385 million joint acquisition of Thermoelectric Komotini.
According to Ballas, Pelecanos & Associates, “on August 23, 2021, the Hellenic Competition Authority issued the Decision No. 744/21, unanimously approving the concentration notified on June 18, 2021, referring to the acquisition of joint control of the company under the name Thermoelectric Komotini Single Person Societe Anonyme, by the companies GEK Terna SA, a leader in renewable energy and construction and Motor Oil Renewable Energy SA, a member of the Motor Oil Hellas (MOH) Group, a conglomerate including refineries, renewable energy, shipping, and other activities.”
According to the firm, “Thermoelectric Komotini is a Special Purpose Vehicle company established to develop and operate a Combined Cycle Gas Turbine electricity plant” with a capacity of 877 megawatts.
Ballas, Pelecanos & Associates’ team included Senior Partner Gregory Pelecanos and Associate Constantine Beikos-Paschalis.