Competition Office clears Market Építő acquisition

Telco

Hungary's Competition Office (GVH) today approved the acquisition of a 51% stake in construction company Market Építő by Garharrt Invest 2014. The two companies are active on different markets, thus the merger does not affect their competition negatively, GVH concluded.

Property developer Wing announced in September that it sold its stake in Market Építő to Garharrt Invest for an undisclosed price, adding that the minority owner of the company is Sándor Scheer, a private individual.

Market Építő made a revenue of HUF 35.5 bln in 2013, with a retained earnings of HUF 772 mln.

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