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Hungary: Auchan receives EC approval for acquisition

The European Commission has approved Auchan’s proposed acquisition of Magyar Hipermarket, which operates the Cora network in Hungary. Magyar and Auchan’s local unit both operate retail stores that sell daily consumer goods, and the deal will help consolidate their presence in several markets across the country, particularly in the Greater Budapest area.

The EC gave the clearance after saying its investigation found that the "merged entity would continue to face competition from a number of other strong competitors and that customers would still have sufficient alternative suppliers in all markets concerned." The regulator also noted that the Hungarian retail market remains dynamic and continues to attract new retailers.

Source: www.kamcity.com

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