Competition Office clears acquisition of packaging company
Hungary's Competition Office (GVH) on Thursday said it approved the acquisition of Hungarian packaging company Pannunion by Pannunity, a unit of the Sun Capital investment group.
Although the acquisition will make Sun Capital market leader on the rigid sheet and thermoformed rigid packaging material market in Hungary, the peculiarities of the products its units make may not make this a suitable indicator of market power, GVH said.
Additionally, there are still competitors in Hungary as well as in nearby countries, capacity of existing companies could be expanded or a new player could enter the market, all of which counterbalance the possible limits to competition presented by the acquisition, it added.
ADVERTISEMENT
KSH Dismisses Reports of Eurostat 'Investigation'
Hungarian-American Business Chamber Established in Chicago
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.
