BUSINESS

Competition watchdog clears Marinopoulos takeover

TAGS: Business

The Competition Commission on Thursday issued its conditional approval of the Sklavenitis supermarket group’s takeover of the outlets of its bankrupt rival Marinopoulos, demanding the sale of 22 stores belonging to the two chains (19 of them in Attica), and the increased protection of suppliers with a high dependence on the two major retailers.

The suppliers can only expect to receive 50 percent of what they are owed by Marinopoulos when Sklavenitis completes its acquisition of Greece’s biggest supermarket chain.

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