Insider Business CPC’s green light to House of Beauty shareholding deal

CPC’s green light to House of Beauty shareholding deal

The island’s Commission for the Protection of Competition (CPC) has given the green light for shareholding changes in HOB House of Beauty Ltd to take place.

Specifically, CPC has approved the takeover of 50% of shares owned by CTC in HOB House of Beauty Ltd to NMM Investments Ltd which belongs to the Michaelides company.

Insider reported on November 16, 2019 that CTC Group continued moves to divest assets and was planning to get rid of its 50% holding in the established cosmetics and beauty products firm.

NMM also owns MPM Imports Ltd which already controls the remaining 50% equity in HOB House of Beauty Ltd – a key player in the Cyprus market.

CPC had examined whether there is an affected horizontal market, that is, whether the threshold of share possession by a participating firm, is exceeded. Therefore, the Commission proceeded and evaluated the combined market shares of participating firms in:

1) wholesale luxury cosmetics market and sub-markets

2) wholesale market for cosmetics and related sub-markets

The Commission concluded that the combined shares in the aforementioned parallel markets in Cyprus do not create an issue of market manipulation, since according to the data, the concentration of activities of the parties concerned does not lead to a combined market share of 15 % or more.

Therefore, CPC points out that there is no affected market at the horizontal level between the parties concerned.

The highest combined market share is, according to the CPC, in the luxury and wholesale sub-markets. And that in view of all of the above, the Commission unanimously decided not to object to the proposed concentration of shares and to declare it compatible with the operation of market competition.


Read more:

Top Stories

Rain on the way all across Cyprus, snow on Troodos mountain

Rain all across Cyprus is on the way and so is snowfall on Troodos mountain, according to the Mediterranean island’s Met Office. The depth of...

Cyprus’ municipal solid waste per inhabitant among highest in EU

Cyprus' municipal solid waste per inhabitant is one of the highest in the EU, according to data released on Tuesday by the island's Statistical...

New contact details for “CyprusFlightPass” platform’s help desk

The contact details of the help desk for passengers who intend to travel to Cyprus from abroad and may have queries regarding the use...

UK to unveil hotel quarantine plans, public told not to book vacations

Britain will announce on Tuesday whether it will bring in mandatory quarantine in hotels for some or all arrivals, the country's coronavirus vaccination minister...

Sokratis joins Olympiakos after Arsenal exit

Former Arsenal defender Sokratis Papastathopoulos has joined Olympiakos Piraeus on a deal until the end of the 2022-23 season, the Greek Super League champions...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...