The value of mergers and acquisitions in Hungary plunged 69% to USD 550 million last year, according to a survey by consultancy Ernst and Young. The value of Hungary's M+A market was well behind that of the Czech Republic (USD 8.3 billion), Poland (USD 8.0 billion), Slovakia (USD 3.4 billion) and Romania (USD 800m). There were 82 mergers and acquisitions closed in Hungary last year. A little less than two-thirds were domestic transactions. Among the foreign transactions were ones by Hungarian oil and gas company MOL - two in the Czech Republic and one in Kazakhstan - as well as Olajterv's acquisition of Czech peer I+C Energo. UK companies closed four deals in Hungary last year. French companies also closed four, while US and Czech companies closed three each.