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ThyssenKrupp Hungary acquisition receives green light from GVH

The Hungarian Competition Authority (GVH) approved ThyssenKrupp Ferroglobus Kereskedelmi’s acquisition of Ib Andresen Industri Magyarország Acélmegmunkáló Központ, GVH announced on Friday, according to Hungarian news agency MTI.

Ib Andresen Industri Magyarország Acélmegmunkáló Központ is a member of IAI Holding and manufactures steel coil products, while ThyssenKrupp Ferroglobus Kereskedelmi makes steel, steel alloy, light metal and plastics products, MTI reported. 

The combined market shares of the companies are not of a scale that could negatively impact competition in the Hungarian market, the competition authority said, explaining the approval of the acquisition, the news agency said.