Olajterv Zrt has been cleared by the competition authority GVH to buy out industry and energy services company HP Team Kft, business daily Napi Gazdaság reports.
The deal would create a major player on the Central European energy market. Talks on a potential merger began last year.
Olajterv posted a HUF 6 billion profit last year on consolidated revenue of HUF 121 billion. The company, which owns Siófok-based pipeline construction company Kőolajvezetéképítő Zrt, among other companies, employs 1,200 people.
The GVH said the two companies have complementary activities which do not curb free competition.