WALLIS INVESTMENTS LTD / HAJDÚ-BÉT
The Wallis Investments, registered in Ireland, concluded a contract with four owners on buying 50 per cent of the shares of Hajdú-BÉT, a poultry producing and trading company. Wallis Investments intended to buy 50 per cent of the shares of Hajdu-BÉT, as a result of which transaction would raise its ownership stake would raise from 15 to 65 per cent. The final target of Wallis Investments was to resale the acquired business, after carrying out some reorganisation steps. Since the final target of Wallis Investments was to resale the acquired business, after carrying out some reorganisation steps, the acquisition of control was qualified as an interim measure. The applicant requested an authorisation of the Office of Economic Competition to its transaction -if it is qualified as a concentration under the regulation of the Competition Act. The argument of the company was that it was not active on the relevant market; therefore the concentration would not be increased. In accordance with the Competition Act the investigation pointed out the temporary character of the planned acquisition of control therefore it did not qualify as concentration. The applicant was given a negative clearance.
September 28, 1999. Budapest
Fógel Jánosné dr. sk. előadó
dr. Bodócsi András sk.
dr. Kállai Mária sk.