Competition Office clears Market Építő acquisition
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.
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.