The Serbian Competition Authority prohibits a three-to-two merger in the sugar market (Hellenic Sugar Industry / Sunoko)

On 19 January 2012 the Serbian Competition Authority (KZK) [1] prohibited the envisaged concentration on the sugar producing industry, which could lead to the creation of a duopoly (three-to-two) on the relevant market. On 9 August 2011 the KZK received a notification by the Serbian sugar producer Sunoko d.o.o. about the intention of the latter to acquire the controlling shareholding (82,33%) in the Thessaloniki-based Hellenic Sugar Industry S.A. (HSI). HSI was the leading sugar producer in Greece, controlling approx. 70% of the Greek sugar market in 2010. The HSI’s majority shareholder ATE Bank decided to sell its controlling package of 82,33% in a

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