GVH approves property market transaction

Initiatives

Hungaryʼs competition office GVH has approved the acquisition of direct sole control by investment fund Magyar Posta Takarék Ingatlan Befektetési Alap (MPTIA) and thereby indirect sole control by fund manager Diófa Alapkezelő of property investment company EURO-MALL Ingatlanbefektétesi, GVH said today.

Investment fund management company Diófa Alapkezelő is majority-owned and exclusively controlled by FHB Jelzálogbank (FHB). A share of MPTIA is held by a large number of owners holding small portions and FHB has no direct ownership; MPTIA is controlled by its fund manager Diófa Alapkezelő, according to state news agency MTI.

EURO-MALL Ingatlanbefektétesi rents out properties, collecting revenue exclusively from letting out shops at the Europark shopping centre, MTI reported. Companies controlled by FHB also rent out properties but these companies hold a small market share even combined with that of EURO-MALL Ingatlanbefektétesi, the state news agency added

Therefore, the transaction is not expected to have any harmful effects on competition, GVH said, according to MTI.

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