GVH approves takeover of dairy companies, fines for acting too soon
The Hungarian Competition Authority (GVH) today approved the acquisition of sole, direct control by Dr. Riad Naboulsi of dairy companies Wassim Sajt, Bábel Sajt and Dráva Tej, Hungarian news agency MTI reported.
At the same time, Dr. Riad Naboulsi received a combined fine of HUF 14 million for completing the transaction prior to GVH’s approval.
Naboulsi is also the owner of dairy companies Kőrösstej and Caravanes while his latest acquisitions Wassim Sajt, Bábel Sajt and Dráva Tej have less than a 10% market share of their respective market segments in Hungary, as such the competition office ruled that their acquisition will have no harmful effects on competition, MTI added.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.