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GVH approves MKB Bank’s acquisition of MKB-Euroleasing

Competition

Hungaryʼs competition office (GVH) has approved MKB Bankʼs acquisition of the sole and direct control over car financing company MKB-Euroleasing, Hungarian news agency MTI reported today.

Additionally, GVH approved holding company Eurolízing Letétʼs acquisition of sole control over MKB-Euroleasing subsidiaries insurance broker Eurorisk Biztositási Alkusz and investment service provider CarNet Invest Befektetési és Vagyonkezelő and shared control over VASAS-Pasarét Üzemeltető és Szolgaltató, another unit of MKB-Euroleasing, jointly with VASAS Sport Club.

GVH said the activities of the MKB Group acquiring MKB-Euroleasing do not include car financing and related services.

In connection with Eurolizing Letét, GVH has established that it only acts as a holding company and the companies under its control do not perform market transactions either.

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