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GVH clears Kika acquisition by XXXLutz group

Hungaryʼs Competition Office (GVH) has cleared the acquisition of the Kika home furnishings stores in Hungary by a unit of Austriaʼs XXXLutz group, a resolution posted on the officeʼs website shows.

The acquisition "does not significantly reduce competition on the affected market", GVH said.

XXXLutz also owns the Mömax chain of home furnishings stores in Hungary.

Austriaʼs Signa Holding agreed in the spring to sell the Kika stores in Hungary, the Czech Republic, Slovakia and Romania to XXXLutz.